The Chamber of Digital Commerce is unhappy with New York’s recently signed Bitcoin mining law.
Kathy Hochul, New York’s governor recently signed a law prohibiting certain Bitcoin mining operations that use carbon-based power sources. The move is part of efforts New York intends to address the environmental concerns of crypto mining by cracking down on mines that use electricity generated from power plants.
CNBC reported that New York-based Bitcoin mining companies would no longer be allowed to renew or expand their permits for the next two years unless they use 100% renewable energy. Hochul described the legislation as the first in the United States, adding that the decision would help New York mitigate its carbon footprint.
(by Lele Jima)