This is an opinion editorial by Rick Mulvey, author of The Fraud Within and contributor to Bitcoin Magazine.
The New York State Department of Environmental Protection dealt another blow to the upstate Greenidge Generating Facility, which produces electricity for the power grid and also mines bitcoin.
Greenidge said the decision, announced Thursday, to deny them a new “Title V” air emissions permit “will have no impact on our existing operations.”
The firm, based in New York’s Finger Lakes region, said it would continue operating its natural gas-fired plant as it appeals the DEC’s decision. In a statement, the company said, “We may continue to operate uninterruptedly under our current Title V air permit, which is still in effect, as long as it takes time to successfully challenge this arbitrary and complex decision.” ” The company said it intended to take legal action if their appeal was not successful.
Climate activists urge Governor Hochul to take the next step
Referring to the recent legislative bill to impose a two-year moratorium on cryptocurrency mining, Yvonne Taylor of the Seneca Lake Guardian organization said, “Governor (Kathy) Hochul must get the job done by signing the crypto moratorium.”
The moratorium bill passed both the Senate and the Assembly, and is now awaiting Hochul’s signature. However, Hochul recently said that he does not expect to see the bill until the end of this year.
Activists continue to push for a moratorium, as they argue that other mining operations seek to set up shop in New York state. According to Sen. Kevin Parker (D), one of the sponsors of the moratorium bill, cryptocurrency mining operations at other gas-fired power plants are being monitored.
Assembly Crypto Supporters Launch Compromise Bill
In a recent development, the New York State Assembly has passed a bill to direct the New York State Department of Financial Services to establish a task force to study cryptocurrency mining without enforcing a moratorium. Presented by Clyde Venell (D), Measure A09275 will propose to study various aspects of cryptocurrency, including consumer and investor protection. The bill was passed in the assembly on March 28 by 122-25 votes.
The New York State Senate also passed the bill on June 2 with an overwhelming majority of votes of 61-2.
That bill now also goes to Governor Hochul for signature.
Cryptocurrency proponents continue to highlight the benefits of mining
Construction and trade unions, especially electrical labor unions, have been big supporters of the cryptocurrency mining industry. They claim that setting up mining operations using already closed power plants could create thousands of well-paid jobs in New York. The region is part of the vast Northeast “Rust Belt,” which has been bleeding manufacturing jobs for decades.
And of course, when making their case to state government officials, proponents are quick to point out that these actions could generate significant tax revenue for the state.
New York State has long been considered the financial capital of the United States in many ways, and cryptocurrency advocates want to ensure that the state does everything possible to foster an environment that is business-friendly and home to innovative technologies. Are.
This is a guest post by Rick Mulvey. The opinions expressed are solely their own and do not necessarily represent those of BTC Inc. either . reflect the thoughts of bitcoin magazine,