Bitcoin mining moratorium bill in New York, getting it’s attention back.


The bill to postpone crypto mining for 3 years is getting attention in New York State, while the state’s environmental agency states how much mining effects the environment.

New plan of the state
A New York State plan to postpone fossil fuel-powered proof-of-work mining for three consecutive years across the state has got support by two more members in the assembly. In addition to the three-year postponement of mining at former fossil fuel power plants, the bill would need the New York State Department of Environmental Conservation (NYSDEC) to maintain crypto mining industry of the state. The assessment would conclude the impact on air and water quality and greenhouse gas emissions.

Necessary measures will be taken by NYSDEC
Anna Kelles, New York State Representative told in February that the information from the NYSDEC assessment would be helpful in determining whether the outright mining ban would be in order “if that is what’s necessary to make sure that the industry cannot prevent us from stick to our climate goals.” She proposed the legislation to the state legislature last May.

Awating approval
A majority of Assembly members would be required to sponsor the bill in order to be sent to the Governor for the final approval into law. The bill is sponsored by only 45 out of 150 Assembly members currently and has a way to go before coming into force. Jumaane Williams, Gubernatorial candidate has also provided his support for the legislation due to environmental issues and what he thinks to be the harsh economic impact of the mining operations.
Proof-of-Work (PoW) crypto mining need the use of computers that has been specially designed to perform the mathematical equations to make new blocks on the blockchain. Bitcoin (BTC) and Ethereum (ETH) are the most famous PoW chains today, but Ethereum is expected to switch to proof-of-stake (PoS) this year or upcoming year and do away with the power-hungry mining process.

Bitcoin mining
The environmental effect of PoW mining has been a relevant point to environmentalists for years. However, it has been seen that a mere 0.08% of the world’s CO2 emissions comes from Bitcoin mining. Additionally, the Chief Marketing Officer at Slush Pool Kristian Csepcsar pointed out to Cointelegraph in February, that much of the focus on green mining is “marketing noise” due to the opaque processes in which the green energy can be produced.