NY bill aims to limit crypto miners using fossil fuel-generated power

0
4
(Reuters) – The New York State Legislature has passed a bill that would impose a two-year moratorium on the use of fossil-fuel power plants to provide energy to miners of cryptocurrencies like Bitcoin, but the governor has yet to sign it. Cryptocurrency mining requires a lot of electricity to power computer systems that compete to solve mathematical puzzles to validate blockchain transactions. The miner who solves the puzzle first is rewarded with cryptocurrency. The State Assembly passed the bill in April and the Senate passed it late last week. Officials at the Governor’s office did not comm…

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.