New York is NOT BANNING Bitcoin Mining. Stop spreading FUD.

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Read the actual text of the bill guys.

FOR THE PERIOD COMMENCING ON THE EFFECTIVE DATE OF THIS SECTION AND ENDING TWO YEARS AFTER SUCH DATE, THE DEPARTMENT, AFTER CONSULTATION WITH THE DEPARTMENT OF PUBLIC SERVICE, SHALL NOT APPROVE A NEW APPLICA- TION FOR OR ISSUE A NEW PERMIT PURSUANT TO THIS ARTICLE, OR ARTICLE SEVENTY OF THIS CHAPTER, FOR AN ELECTRIC GENERATING FACILITY THAT UTILIZES A CARBON-BASED FUEL AND THAT PROVIDES, IN WHOLE OR IN PART, BEHIND-THE-METER ELECTRIC ENERGY CONSUMED OR UTILIZED BY CRYPTOCURRENCY MINING OPERATIONS THAT USE PROOF-OF-WORK AUTHENTICATION METHODS TO VALI- DATE BLOCKCHAIN TRANSACTIONS. FOR THE PERIOD COMMENCING ON THE EFFECTIVE DATE OF THIS SECTION AND ENDING TWO YEARS AFTER SUCH DATE, THE DEPARTMENT SHALL NOT APPROVE AN APPLICATION TO RENEW AN EXISTING PERMIT OR ISSUE A RENEWAL PERMIT PURSUANT TO THIS ARTICLE FOR AN ELECTRIC GENERATING FACILITY THAT UTILIZES A CARBON-BASED FUEL AND THAT PROVIDES, IN WHOLE OR IN PART, BEHIND-THE-METER ELECTRIC ENERGY CONSUMED OR UTILIZED BY A CRYPTOCURREN- CY MINING OPERATION THAT USES PROOF-OF-WORK AUTHENTICATION METHODS TO VALIDATE BLOCKCHAIN TRANSACTIONS IF THE RENEWAL APPLICATION SEEKS TO INCREASE OR WILL ALLOW OR RESULT IN AN INCREASE IN THE AMOUNT OF ELEC- TRIC ENERGY CONSUMED OR UTILIZED BY A CRYPTOCURRENCY MINING OPERATION THAT USES PROOF-OF-WORK AUTHENTICATION METHODS TO VALIDATE BLOCKCHAIN TRANSACTIONS.

https://www.nysenate.gov/legislation/bills/2021/A7389

All this means is that large crypto mining firms cannot reactivate old power plants to power their farms. New York is no longer issuing permits to open carbon based power plants that feed directly into mining farms. That’s it. You can still build a crypto farm and hook it into the existing grid, or you can build a hydro, solar, or wind plant if you really want to own the power generation facilities as well.

This really only stops people from reactivating old coal power plants to feed farms. Which is fine by me.

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