Hong Kong Professor: China’s Crypto Mining Ban Shifts Businesses to US

July 3, 2024 Bitcoin.com

Pennsylvania crypto mining permit halt cut from bill after union pressure

October 17, 2023 Coin Telegraph

The bill’s sponsor Greg Vitali included a clause that instead subjects miners to ongoing reporting requirements to get the bill past a House Committee.

A Pennsylvania House Representative has cut a two-year crypto mining ban from their bill to regulate the sector’s energy consumption claiming trade labor unions pressured the change.

On Oct. 16, the Pennsylvania House Environmental Resources and Energy Committee passed the Cryptocurrency Energy Conservation Act by a slim margin — 13 for and 12 against — after no movement on the bill since its introduction to the Committee on June 21.

The Committee’s chair and the bill’s sponsor, Democratic Representative Greg Vitali, told local media outlet The Pennsylvania Capital-Star the same day that he was pressured by Democratic Party leaders not to run the bill inclusive of the moratorium.

*Excerpt of the amended House Bill No. 1476 with the two-year crypto mining moratorium struck off. Source: Pennsylvania House of Representatives*

Rep. Vitali said building trade labor unions had “chronic opposition” to environmental policy and claimed the unions had his Democratic colleagues in their pocket.

“Frankly, [the unions have] the ear of House Democrats, and they have the ability to peel off members who would otherwise be supportive of good environmental policy.”

Vitali claimed voting against the unions would risk the Democratic majority in Pennsylvania’s House and he would rather see the bill pass sans moratorium than not at all.

“I learned the hard way in my first six months as majority chair that there’s not a high tolerance for strong environmental policy,” Vitali added.

The two-year ban would have stopped approvals of new and renewed permits to operate a crypto mining facility. The bill now instills an impact study on miner operations and new reporting requirements.

Within six months, miners in with state have to submit information on the number of mining sites operated and the size of each site, along with information on energy sources, emissions reports, and energy and water consumption.

Pennsylvania-based crypto miners will have to submit the reports annually. New miners to the state must submit the same report before starting operations.

Crypto miner Stronghold Digital Mining has set up shop in Pennsylvania — the third-largest coal-producing state in the United States — and purchased two coal-burning power plants on the premise it would turn the plant’s waste into energy to power hundreds of Bitcoin (BTC) mining rigs.

In July, the miner sought approval to burn shredded tires to produce up to 15% of its energy needs, a move strongly opposed by local environmental groups.

Bitcoin mining firm TeraWulf also has a nuclear-powered site in Pennsylvania.

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New York State Assembly passes ban on new BTC mines that don’t use green power

April 27, 2022 Coin Telegraph

Bitcoin mining ban

The bill will now be carried with support to the Senate for passing before a final sign-off into law by Governor Hochul.

The New York State Assembly passed a bill late on Tuesday April 26 that would place a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon based fuel to power their operations.

The bill sponsored by Anna Kelles would not only impose a two-year hold on approval of any new Bitcoin mines, the proposed moratorium would also prevent the renewal of permits issued to existing PoW cryptocurrency miners using carbon sourced energy if they seek to increase the amount of electricity consumed.

Thrilled that my bill with Senate champion @kevinparkernyc A7389C/S6486D just passed in the Assembly as part of the #EarthDay Package! Thank you to all of cosponsors and advocates who helped get this bill to the floor for a vote! pic.twitter.com/NhVnMo3FJE
— Anna Kelles (@annakelles) April 27, 2022

The bill gathered the support it needed to pass, with 95 in favor, 52 against and will now be carried by Senator Kevin Parker for a vote in the Senate. If successful it will then be delivered to Governor Kathy Hochul who can veto the bill or sign it into law.

Current status of Bill A7389C as of April 27. Source.

The Department of Environmental Conservation (DEC) would be tasked by the bill with preparing a “generic environmental impact statement” to number, locate and asses the energy consumption and greenhouse gas emissions of PoW miners and their impact on the public health.

Cryptocurrency industry advocacy group the Blockchain Association had previously called on “pro-tech, pro-innovation, pro-crypto” residents of New York to mount an opposition to the bill, which they claim resulted in thousands of messages to legislators.

The association said that around three hours of debate took place over the bill, demonstrating what they believe is a “greater opposition to the mining ban than proponents believed.” In a tweet today the team said it will direct its energy to the New York Senate to defeat what it calls the “anti-technology bill”.

Proposed bans on proof-of-work cryptocurrencies on environmental grounds are becoming more common. A similar proposal called the Markets in Crypto Assets (MiCA) bill was narrowly defeated in the European Parliament in late March, with legislators there even considering a ban on Bitcoin trading to enforce the proposed ban on mining.

Hungary’s Central Bank Governor Calls for EU-Wide Ban on Cryptocurrency Trading and Mining

February 13, 2022 Bitcoin.com

Proposed New York Bitcoin mining ban watered down to allow green projects

June 10, 2021 Coin Telegraph

Bitcoin mining ban

New York senators have amended a proposal to ban all crypto mining for three years, and are now seeking to only stop mining firms backed by carbon-based fuel sources.

A proposed crypto mining ban calling for a forced three-year hiatus on all mining operations in New York has been watered down — and will now allow green projects.

The bill passed in the senate on June 8, and has now been referred to the state assembly. If the bill is passed in the assembly, it will be delivered to Governor Andrew Cuomo to either approve or veto the proposed legislation.

The initial New York Senate Bill 6486A sought to halt all crypto mining for three years in order to conduct environmental impact reviews on mining operations in the tri-state area.

However, the bill was amended in the senate to get it over the line, and the revised 6486B-bill is now focused solely on any firm that uses carbon-based fuel sources to power proof-of-work crypto mining.

#NYSenate Bill S6486B, sponsored by @SenatorParker, passed (36-27, unofficial). Establishes a moratorium on consolidated operations that use proof-of-work authentication methods to validate blockchain transactions:https://t.co/P2gDKdPnL5
— New York State Senate (@NYSenate) June 8, 2021

There is no longer a specific time frame on the crypto mining ban with the bill preventing the expansion of any carbon-fuel powered mining operations, along with the establishment of any new mining operation using non-renewable energy sources.

The amended bill also calls for documentation regarding the energy output, carbon footprint, and type of fuel used by all crypto miners.

Governor Cuomo stated on June 7 that he was not well versed in the proposed ban, however, he is aware of the environmental concerns surrounding the crypto mining industry:

“There are serious concerns. There’s no doubt about that. There are serious concerns. And I’ll look at the legislation.”

New York legislators' examination of crypto mining appears to be related to its sustainable energy targets, with the bill referring the state’s “Climate Leadership and Community Protection Act”

The Protection Act set a target of reducing greenhouse gas emissions by 85% by 2050, and zero net emissions from all sectors of the economy within that time frame.

An ongoing issue concerning some New York residents, is the approved expansion of Greenidge’s gas-fired Bitcoin plant on Seneca Lake — which intends to dedicate 85 megawatts of power to Bitcoin mining by 2022.

The firm’s reported transition from coal to natural gas, along with its recent shift to carbon neutrality through carbon offsets, hasn’t dampened down the opposition of environmental group Seneca Lake Guardian.

The group noted on June 5 that the Greenidge had merely switched from being a coal-fired plant to a “fracked-gas burning plant,” and complained that the Department of Environmental Conservation (DEC) has failed the citizens by not “completing a new Environmental Impact Statement”:

“Greenidge is now burning fossil fuels simply to make fake money in the midst of climate change, with no regulation or oversight.”

Crypto mining ban