New York Crypto Mining Bill Dies in Assembly After Passing State Senate
Union opposition helped kill a Senate-passed environmental bill in the New York Assembly to regulate crypto mining.
The New York State Assembly failed to pass an environmental protection bill that would have clamped down on new and expanding bitcoin mining operations.
- Sources familiar with the matter confirmed to CoinDesk that opposition from union groups, specifically the International Brotherhood of Electrical Workers, led to the bill's demise. The bill died Thursday with the closing of the current legislative session.
- While supporting the environmental goals, the union said the bill would "prohibit a business based upon whether it obtains its power from a generator behind the meter versus from the grid and targets the use of a specific technology,” according to a letter opposing the measure from IBEW Legislative Counsel Addie A.E. Jenne.
- The original bill proposed in the New York State Legislature by Sen. Kevin S. Parker (D-Brooklyn) would have enacted a freeze on new mining endeavors in accordance with the Climate Leadership and Community Protection Act of 2019.
- A modified version passed the state Senate earlier this week.
- If passed, the bill would have required scrutiny of the environmental impact of current mining operations in the state.
- The bill was proposed at a time when an inactive coal plant in upstate New York was recommissioned as a plant fueling Greenidge Generation’s mining apparatuses with 19 megawatts of natural gas.
- Although environmental goals are at stake with the bill’s failure to pass, profitable mining plants such as Greenidge have increasingly been making commitments to a future of carbon neutral mining.
Danny Nelson contributed reporting.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.