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Anti-Cryptocurrency Mining Bill Dies In New York Legislature

J. David Ake

New York failed to pass a measure that would put a hold on new large-scale cryptocurrency mining operations.

Cryptocurrency mining requires a permit from state environmental regulators because they are energy-intensive to operate. More energy means activating dormant power plants fired by fossil fuels.

The bill would have required the state to study the environmental and climate effects of existing cryptocurrency mining in New York.

The International Brotherhood of Electrical Workers union pushed back against the measure, saying it was unfair to their members.

Environmental groups said that, left unchecked, cryptocurrency mining is working against New York carbon emission goals.