Business-Hostile NY Passes Bill Banning Fossil Fuel Bitcoin Mining

In April the New York State Assembly passed Assembly Bill A7389C. Early Friday morning the New York State Senate, on the last day of the current session, passed the same bill, sending it to Gov. Kathy Hochul's desk for a signature. A7389C (full copy below) slaps a two-year moratorium on cryptocurrency mining (i.e. bitcoin mining) powered by electricity generated from burning fossil fuels. Here's how it works in New York (we've seen this multiple times): First comes a moratorium that lasts a year or two, then the moratorium gets extended, and eventually the moratorium turns into an outright, permanent ban. That's how it worked with fracking, and that's how it will work with bitcoin mining in New York, a state that has become extremely hostile to business.

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