In New York state, a new bill seeks to place a three-year moratorium on crypto mining pending an environmental review by the state.
Senator Kevin Parker presented new York Senate Bill 6486 to the state Senate’s Environmental conservation committee.
The state would then conduct a complete environmental impact statement. This statement inspects the impact of the center’s greenhouse gas emissions from mining affecting water quality, air quality, and wildlife. The report would be accompanied by a 120 day public comment period and at least one public hearing.
“Cryptocurrency mining centers are an expanding industry in the State of New York, often but not exclusively located in converted fossil fuel power stations including dormant peaker plant,” the bill said.
Climate Leadership and Community protection Act, with that bill stating that: “A single cryptocurrency transaction uses the same amount of energy that an average American household uses in one month, with an estimated level of global energy usage equivalent to that of the country of Sweden.”
Many mining centers are off-tracking the emission targets of the Climate Leadership and Community Protection Act, 2019. Considering their harmful nature, they will not receive the necessary permit to operate.
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If a bill passes, it will likely affect New York Greenidge Generation plant. The Power plant-based in Dresden, New York, mines about 5.5 bitcoin each day in 2020. The facility was previously a coal-fired power plant but in 2017 they converted it into natural gas. And then in January 2020, they converted it into a Bitcoin mining center.
The Climate Leadership and Community Protection Act targets that it reduces 85% of greenhouse gas emissions.
