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Crypto Mining Bill Dies After Passing, New York

Opposition from union workers resulted in the death of an environmental protection bill that would have clamped down on crypto miners and the vast consumption of energy in New York. The New York State Assembly failed to pass the environmental protection bill.

The New York Senate bill was approved for legislation earlier this week, the aim of the bill was to reduce mining operations in New York to reduce the impact on the environment since mining cryptocurrency consumes plenty of energy, particularly fossil fuels and coal.

However, the protection bill failed to pass by the New York State Assembly despite being supported by several environmentalists and anti-miners. According to the sources, opposing union groups in the sector including the International Brotherhood of Electrical Workers were one of the major causes the bill failed to pass on. The environmental protection bill died on Thursday as the legislative session ended.

As reported by the Connecticut National Public Radio, the International Brotherhood of Electrical Workers, spoke against the anti-mining bill. While the labor union-supported environmental measures, it spoke against the legislation with a letter to the legislative session stating it would halt business conducted by firms that obtained its power from generators and targeted specific technology. The letter from the IBEW also stated the unfairness of the bill to the Legislative Counsel Addie A.E. Jenne.

The original bill proposed by Senator Kevin S. Parker was aimed at halting all mining operations for three years under the Climate Leadership and Protection Act 2019. However, the bill was water-downed and modified to scrutinize the environmental impact of the ongoing mining operations in the state.

Even though the environment is at stake with the bill’s failure, profitable mining facilities such as the recently recommissioned Greenridge have increased their efforts for carbon-neutral mining.

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