- The bill also aims to prevent existing PoW miners from renewing licenses if they increase electricity usage.
- Sponsored by Representative Anna Kelles, the bill passed the Assembly with a 95 to 52 vote.
- The Blockchain Association is seeking the support of pro-crypto New Yorkers to fight the bill in the Senate.
The New York State Assembly has passed a bill to place a two-year embargo on establishing new Proof-of-Work (PoW) mining facilities that do not leverage green energy. Representative Anna Kelles sponsored the bill, which seeks to make New York green by prohibiting the use of carbon-based fuel for PoW mining.
Reportedly, the proposed legislation also seeks to prevent existing PoW mining farms that use fossil fuels from renewing licenses if they plan to increase the amount of electricity they consume.
Delighted that the bill cleared the Assembly, Representative Kelles tweeted,
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! 🌎
The bill got overwhelming support, with 95 Assembly members voting in its favor while 52 voted against it. Now that it has passed Assembly, Senator Kevin Parker will present it in the Senate. Should the bill pass the Senate, it will be delivered to New York Governor Kathy Hochul, who can veto or sign it into law.
If signed into law, the legislation would task the Department of Environmental Conservation (DEC) with preparing a generic environmental impact statement on the state’s PoW mining industry. This statement would highlight the number of PoW mining operations, their location, energy consumption, levels of carbon emissions, and impact on public health.
Blockchain Association moves to prevent the bill from moving forward
While the bill’s path seems mapped out, crypto advocacy group Blockchain Association is actively fighting to prevent its passing into law. The group has also called on pro-innovation and pro-crypto New York residents to oppose it.
According to the group, these efforts resulted in crypto-friendly New Yorkers sending legislators thousands of messages. In a tweet earlier today, the Blockchain Association said the bill took three hours of heated debate before passing Assembly, indicating strong opposition. The group added that it would direct all its energy to fight the proposed legislation in the Senate.
In what has been a growing trend, environmentalists are increasingly voicing concerns over PoW mining. However, their efforts seem out of place, considering the entire Bitcoin (BTC) mining industry only accounts for 0.08% of the global carbon emissions, according to CoinShares’ research.
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