44 sats \ 0 replies \ @harsh 3 Jun

They are going to control everything in NY under the guise of protecting the environment. Meanwhile they can't even keep the streets clean.

A pretty decent conclusion:

Great article by @KenzieSigalos. As a veteran miner can confirm irrelevant to the #bitcoin network BUT may affect NY's bottom line & (ironically) ability to reach CO2 targets. Increasingly mining used as a way to balance grid load efficiency enabling investment into renewables.



You obviously know a lot more about this than me. It seems like it will hurt NY much more than it will hurt bitcoin.

Think of it this way ... did China banning bitcoin mining there help them or hurt them?

21 sats \ 0 replies \ @Majjin 3 Jun

Its seems that New York is hellbent on passing policies that will drive out business and citizens...

20 sats \ 0 replies \ @tom 5 Jun

Just to offer a counter-point here, the article shared below is misleading and factually inaccurate. The bill bans issuance of new air permits for fossil fuel-fired power plants that are providing electricity directly (eg, not through the grid) to PoW mining operations. This bill passed because short-sighted investors started firing up shuttered power plants in communities that didn't want those plants reactivated. Local people (who mostly probably had no understanding of Bitcoin, etc) got angry; their elected officials heard them; the timing coincided with a national and global anti-crypto backlash (that is obviously often ill-informed and in bad faith); and now Gov. Hochul is likely to sign this bill into law. PoW mining remains perfectly legal in NYS, but if the bill is signed, it will no longer be possible to have a captive fossil fuel-fired power plant to provide electricity to your PoW mining operation. These miners will now have to source electricity from the grid, or – as Soluna and other enable – from renewable sources. The hysteria and misinformation from the crypto lobby is a bad look, and those of us who would like to see crypto 1) thrive in NYS and 2) rapidly shift to dependence on 100% renewable electricity would probably be better served by trying to understand what actually happened here and by actually reading the bill language which has been systematically misrepresented in press coverage.

The Tweet that kicks off a Twitter thread by the author of the article on CNBC:

New York just passed a bill to ban new #bitcoin mining operations & curb buildout at existing mines. Measure now heads to Gov. @KathyHochul. If she signs it, the law goes into effect immediately.

What's in it & what's at stake:


https://twitter.com/KenzieSigalos/status/1532605083669651459 https://nitter.net/KenzieSigalos/status/1532605083669651459 <-- Shows the thread in a single, easy-to-read, web page

Miami entered the chat

It's all moving out and largely moving south.