Mining may be banned in New York State

Bitcoin mining in New York may be banned in the near future due to the negative impact of mining on the environment. The state assembly voted in favor of the ban this week.

This bill (Bill S6486D) was proposed to the authorities in May last year. It contains the intention to reduce greenhouse gas emissions by 85% by 2050.

As part of this initiative, mining may be banned for 2 years. Thanks to the break, the authorities will be able to assess the impact of the PoW mining algorithm on the environment.

The ban on mining can deal a real blow to bitcoin mining. After the ban on mining in China, many mining farms moved to the northern part of the state. There are cheap energy sources and low temperatures, which makes bitcoin mining more convenient and cheaper.

Against this background, the state decided that it would not be able to achieve the planned number of greenhouse gas emissions. It is with this that the active measures being taken are connected.

However, it is too early to be afraid. It is likely that this law will never be passed. To support it, it is necessary that representatives of the Senate, as well as the governor of New York, vote in favor of a mining ban. Let's see how the situation develops.

We will follow the development of the situation. Read our news and subscribe to social networks. You can also start mining cryptocurrency using Hive OS service.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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