A bill in New York aims to halt bitcoin mining for 3 years until its environmental impact can be assessed
- A bill in New York seeks to halt
bitcoin miningfor three years until its environmental impact can be assessed.
- The bill would specifically look into the greenhouse gas emissions caused by
- If passed, it will affect a growing bitcoin mining industry in upstate New York.
A bill introduced in the New York State Senate is seeking to halt bitcoin mining for three years until the state has assessed its impact on the environment.
If the bill passes, it will affect a growing industry, especially in upstate New York where the power for bitcoin mining is more affordable and aided by cooler weather that keeps equipment from overheating as much.Among the mining centers active in upstate New York is
Bitcoin mining has long been criticized due to its heavy energy use and environmental impact. Various research, including a study from Cambridge University, has shown that bitcoin mining around the world uses more energy each year than some entire nations.However, many of bitcoin's supporters maintain that mining increasingly uses renewable energy. Bitcoin has risen 83% year to date. It briefly breached a record high of $64,000 ahead of Coinbase's direct listing, before plummeted around 36% to $47,000 around 10 days later.
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