Miners Threaten To Abandon New York As State Gives Nod To Bitcoin Mining Ban
Crypto miners are in for a major showdown with legislators. The relatively low cost of providing electricity in New York is rapidly making the state a flourishing hub for cryptocurrency miners. However, several locals and environmental organizations have voiced concerns about the impact of pollution as a result of the state’s fast growth. On Friday, […]
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Miners feel that the New York legislature’s efforts to get Bitcoin miners out of their state will backfire in the long run as other states invite miners to help improve their energy grid. Two Bitcoin miners have told Cointelegraph that if the bill banning Proof-of-Work mining for two years in New York becomes law, it would end up triggering an exodus of mining companies from the state and do little to address the intended goals of the moratorium.GEM Mining CEO John Warren told Cointelegraph on June 8 that he and other miners now view New York as an unfriendly place where they likely would....
The state of New York is about to shoot itself in the foot yet again. First, the infamous BitLicense drew all cryptocurrency companies away and now they’re considering banning Proof-Of-Work mining. Or at least making it very hard for mining facilities and home miners to operate from the state. The New York State Assembly will […]
The bill once, approved by Governor Kathy Hochul, would make New York the first state in the U.S to put a moratorium on crypto mining. The New York State Senate approved a controversial proof-of-work (PoW) mining ban bill that would prohibit any new Bitcoin (BTC) mining operations in the state.The PoW mining ban bill was first passed by the state assembly in April last month. It aims to prohibit any new mining operations in the state for the next two years. Now, the bill is headed for the governor’s office, which once approved, would make New York the first state in the United States to....
Eobot, a cryptocurrency cloud mining company, will not serve customers in New York State as of July 1, 2015, on account of the recently finalized New York State BitLicense requirements. "If you are residing in and/or accessing Eobot within the State of New York, U. S., please withdraw all coins and cease all mining with Eobot as of July 1, 2015, as we are ceasing all Eobot mining connections from within New York at that time," the company announced on its website. We regret that we must cease Eobot business within New York State, however the new BitLicense requirements in this state place....
Currently, the pressure to suspend cryptocurrency and Bitcoin mining in the United States is gaining force in New York as the New York environmental agency evaluates the impact of crypto mining on the environment. On Monday, the New York state senate submitted a bill to enforce a 3-year pause on cryptocurrency mining across the state. […]