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Pennsylvania crypto mining permit halt cut from bill after union pressure

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.

Related: Bitcoin miners seek alternative energy sources to cut costs

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.

Magazine: Recursive inscriptions — Bitcoin ‘supercomputer’ and BTC DeFi coming soon

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

US voters across 4 swing states oppose anti-crypto pres candidates: Coinbase

A poll of voters in New Hampshire, Nevada, Ohio and Pennsylvania found 55% would be less likely to vote for anti-web3 presidential candidate, said Coinbase.

Crypto exchange Coinbase says it will focus its "Stand with Crypto" campaign on nine states in the U.S., including four “swing states” with voters polled as less likely to choose anti-crypto presidential candidates.

The four “swing states” include New Hampshire, Nevada, Ohio, and Pennsylvania, which are just some of the states the crypto exchange is set to focus its “Stand with Crypto” campaign, it said in a Sept. 19 blog.

“Polling in the fall of 2022 showed that in the key states of NH, NV, OH, and PA, over half (55%) of voters stated that they would be less likely to vote for candidates who oppose crypto and Web3,” said Coinbase, citing survey data collected in a Morning Consult poll a year prior.

The October-published poll included 800 likely voters across the four states. Between 13-19% of respondents in the four states claimed to own cryptocurrency at the time of the polling.

Percentage of voters in the four swing states that own cryptocurrencies or nonfungible tokens. Source: Morning Consult

Coinbase also cited that in Nevada, Ohio and Pennsylvania in particular, more than 40% of crypto owners use blockchain to remit money overseas to help family members pay for food, housing and health care for far less than what banks typically charge with international wire transfers.

Coinbase attempts to mobilize crypto users

The highlighted research comes amid an ongoing “Stand With Crypto” campaign, a 14-month-long campaign launched by Coinbase in August, pushing for crypto legislation in the country.

Coinbase said the campaign will focus on the four “swing states” but will also include an intense focus on Arizona, California, Georgia, Illinois, and Wisconsin, which have an “over-index” when it comes to crypto owners, it said.

“While a growing number of elected officials in Congress are advocating for legislation to regulate crypto and drive progress in the financial system, others are simply choosing to protect the status quo.

Coinbase is also set to organize a “Stand with Crypto Day” will take place in Washington D.C. on Sept. 27 to advocate for better cryptocurrency innovation and policy.

Related: Coinbase CEO says leaving US ‘not even in the realm of possibility right now’ — Report

The campaign is also encouraging crypto owners and supporters to take a moment to call their members of Congress and ask them to pass clear, sensible legislation.

“Today we kick off this effort by rallying the collective energy of the community, and taking the fight off X (formerly known as Twitter) and on to the phones."

“The campaign will encourage crypto owners and supporters to take one minute of their day to call their member of Congress and ask them to pass clear, sensible legislation,” it added.

Magazine: Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Pennsylvania Lawmaker Says New Crypto Bill Is Coming After Positive Ripple Lawsuit Outcome

Pennsylvania Lawmaker Says New Crypto Bill Is Coming After Positive Ripple Lawsuit Outcome

A Pennsylvania Republican is reportedly planning to propose new crypto legislation after last week’s verdict in the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple. Bloomberg reports that Representative Glenn Thompson is optimistic about getting support for the crypto bill he is championing following the court’s decision that Ripple did not violate securities law […]

The post Pennsylvania Lawmaker Says New Crypto Bill Is Coming After Positive Ripple Lawsuit Outcome appeared first on The Daily Hodl.

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/s

Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/sMawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash per […]

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

TeraWulf goes nuclear: 8,000 rigs spool up in Nautilus mining facility

Bitcoin mining company TeraWulf has fired up a new “behind the meter” mining facility powered by 100% nuclear power in Pennsylvania.

United States-based Bitcoin mining company TeraWulf has fired up a new crypto mining facility in Pennsylvania — solely running on nuclear power generated on-site. 

In Mar. 6 statement, TeraWulf said the Nautilus Cryptomine facility is its first “behind the meter” Bitcoin (BTC) mining facility, which refers to using energy directly at the generation site without traveling through the grid.

The Nautilus Cryptomine directly sources carbon-free baseload power from the 2.5 gigawatt (GW) Susquehanna nuclear generation station on site.

Paul Prager, Chairman and CEO of TeraWulf claims the Nautilus mining facility now has "arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years."

The company also revealed they have now brought online nearly 8,000 mining rigs representing computing power, or hash rate, of 1.0 exahashes per second (EH/s), with plans for another 8,000 miners by May, increasing the hash rate to 1.9 EH/s.

TeraWulf has a 50 megawatt (MW) share in phase one of the new facility, a joint venture with Cumulus Coin, but can add an additional 50 MW of BTC mining capacity in future phases.

According to TeraWulf's website, the Nautilus Cryptomine is expected to reach 300 MW when complete and will be among the largest mines in North America.

The Nautilus Cryptomine facility in Pennsylvania is solely nuclear powered. Source: TeraWulf

First announced back in August, 2021, the Nautilus Cryptomine facility is the result of a partnership between TeraWulf's nuclear mining facility subsidiary and power generation and infrastructure company Talen Energy Corporation. 

Phase 1 of the joint venture included the 180-MW “Nautilus Cryptomine” built on Talen’s digital infrastructure campus adjacent to its nuclear power generation station.

TeraWulf generates domestically produced BTC powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy.

Related: US legislators renew call for EPA investigation of crypto mining emissions data

Concerns around the potential environmental impacts of BTC mining have ramped up in the last few years with heated debates around the environmental and energy impact surrounding the mining of crypto assets. 

Last year, New York signed a two-year moratorium banning any new fossil-fuel-powered Bitcoin miners from setting up shop within the state.

While in October of 2022, Europe made moves toward regulatory action on crypto’s alleged environmental impact as well.

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Terawulf Energizes First Nuclear-Powered Bitcoin Mining Facility in the US, Plans to Expand Operations

Terawulf Energizes First Nuclear-Powered Bitcoin Mining Facility in the US, Plans to Expand OperationsTerawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or close to 8,000 application-specific integrated circuit (ASIC) bitcoin miners are now online, and another 8,000 mining […]

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits Australia

Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits AustraliaThe bitcoin mining operation, Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania. Reports detail that Mawson has delivered six modular production units capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin miners, or approximately 12 megawatts (MW) of capacity. The new Mawson site is capable […]

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Study Identifies the Top 10 States in America Most Interested in Bitcoin, Ethereum

Study Identifies the Top 10 States in America Most Interested in Bitcoin, EthereumOn September 2, the crypto market aggregation web portal Coingecko.com published a study that identifies the top ten states in America that are most interested in the two leading digital currencies, bitcoin and ethereum. The team leveraged Coingecko’s page traffic data and found that California captures 43% of the traffic visiting the site’s bitcoin and […]

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Pennsylvania legislature mulls crypto task force bill

The proposed crypto task force will examine the impact of crypto and digital currencies across the Commonwealth of Pennsylvania.

A bill to establish a crypto task force in Pennsylvania has been introduced in the state’s General Assembly.

According to the details of HB1724 published by LegiScan, the proposed crypto task force will be mandated to examine the potential impact of widespread crypto and digital currency adoption in the state.

A moderately partisan bill introduced by eight Democratic and two Republican members of the General Assembly, the proposed legislation, if passed, will be known as the “Digital Currency Task Force Act.” Introduced back on July 19, the bill has been referred to the Committee on Commerce.

Outlining the duties of the proposed task force, the bill stated the agency would determine the number of cryptocurrencies being traded in the state and the exchange platforms operating in Pennsylvania.

The task force will also look into investment entities seeking large-scale exposure to crypto and digital currencies and the potential tax implications of cryptocurrencies on State and local taxes.

Pennsylvania’s crypto task force bill also seeks to evaluate the transparency of the crypto marketplace, especially in price manipulation and other illegal activities. The task force will study crypto regulations from various national and international regulatory agencies.

Back in January 2019, Pennsylvania’s Department of Banking and Securities ruled that crypto exchanges did not fall under money transmission laws.

Related: Texas house passes crypto-friendly bill, now goes to senate

According to the details of the proposed bill, the task force would comprise 13 members who will serve without any compensation. The task force will also hold public hearings as part of its crypto market review process. The task force will also prepare and submit its findings to the governor as well as the General Assembly.

Legislative action to create crypto-related task forces is common in the United States. In September 2018, the U.S. House of Representatives passed a bill establishing a task force mandated to combat the use of cryptocurrencies for financing terrorist activities.

At the start of the year, another bill was introduced to the House, seeking to create a task force with a similar mandate in the wake of the Jan. 6 riot at the U.S. Capitol.

Web3 adoption hinges on high-quality nodes, says Lava Network CEO

Waste Coal-Converting Bitcoin Miner Stronghold Digital Mining Raises $100 Million

Waste Coal-Converting Bitcoin Miner Stronghold Digital Mining Raises 0 MillionOn Tuesday, Stronghold Digital Mining, Inc., an ESG-friendly cryptocurrency miner announced it has raised $105 million in two private equity securities funding rounds. Stronghold’s operations convert waste coal into alternative energy in order to mine bitcoin and other cryptocurrencies. ESG-Friendly Crypto Miner Turns Coal Waste to Bitcoin, Operation Raises $100M While many have been focused […]

Web3 adoption hinges on high-quality nodes, says Lava Network CEO