SEATTLE — As cryptocurrency mining draws increased scrutiny on Capitol Hill in Washington, D.C., some state legislatures are considering proposals to restrict the industry over growing concerns about its energy use. Other states, though, are advancing bills to protect cryptocurrency miners from such crackdowns, citing the economic potential of hosting mining operations.
Last year, New York became the first state to limit cryptocurrency mining based on energy usage. Lawmakers passed a two-year moratorium on new mining operations that use electricity directly supplied from fossil fuel plants. The bill was drafted in response to mining companies that repurposed aging coal and gas plants to power their operations.
“Can we reach our climate goals while adding cryptocurrency mining onto our grid?” asked Assemblymember Anna Kelles, a Democrat who sponsored the bill. “That's an important question.”
