New York State may be banned from mining for three years?

Recently, Bill 6486 banning the mining of crypto assets was submitted by Senator Kevin Parker in New York. To investigate the environmental impact of mining for several years. Senator Parker is a person involved in legislation on other environmental issues.

Since mining is done 24 hours a day, it consumes a lot of power and helps to emit large amounts of carbon dioxide. Reportedly, the amount of carbon dioxide emitted by mining around the world is 53 million tons, which is the same as that of one Swedish country.

In the case of New York, which is currently a hotbed for the mining business, it plans to investigate the impact of mining on greenhouse gas emissions, wildlife ecology, water quality, and atmosphere during the three-year ban. In the future, after being deliberated by the parliament, a four-month disclosure period will be prepared to listen to citizens’ opinions.

Meanwhile, there are regions where mining has already become part of economic activity. In Dresden and Alcoa, old power units are being recycled for mining. There is also an area where the remaining electricity is sent to the power grid. It may be a win-win relationship for power equipment owners as well, but it can be surprising for environmentalists.

US mining company Greennidge has announced plans to significantly increase the operation of four power units in Dresden. It is said to install servers with high power consumption and double them by the end of the year. It is said that it is even targeting 500 megawatts by 2025.

In response to the bill, experts from the U.S. nature conservation group have also suggested the possibility of repeated failures, such as the hydraulic shredding law ten years ago. The hydraulic fracturing method, which is a means of mining natural gas, has a negative impact on the environment like mining, and in 2008 the governor ordered an environmental impact investigation. The fight continued for six years, and in 2014 the governor officially banned the hydraulic shredding laws, and the ban was also included in the state budget for 2020.

A similar situation can be sufficiently thought of, but in any case, screening can be seen as a good opportunity to objectively investigate the impact of crypto assets on the environment, and based on the final result, it can be decided whether to regulate or ban it entirely. However, it is clear that the coin value has skyrocketed and the mining influence is large.

Plattsburgh, New York, where the bill was submitted, was the first city to ban mining in the U.S. in 2018. Other activities are already banned in parts of China and Mongolia. This time, it is trying to ban mining not just in a single city, but in the state as a whole, but ironically, the Climate Leadership and Community Protection Act aimed at protecting the environment has a lot to do with becoming a hotbed for mining in New York. do.

Since the establishment of this law, efforts have been made to obtain sufficient power from new and renewable energy, and in New York, coal-fired power plants have also been decided to abolish last year and are in a situation where they must increase their operations for several decades. In other words, there is no need for a power plant that emits carbon dioxide, and as a result, it is reused for mining. The bill says that mining will hinder the bill and the Paris Agreement’s goals. Related information can be found here.