Governor Kathy Hochul has signed a cryptocurrency mining moratorium, putting a two-year lid on renewing air discharge permits for fossil fuel power plants used to power cryptocurrency mining operations. They use banks of computer servers to acquire bitcoins and other cryptocurrencies, and they’re heavy consumers of electric power.
The governor’s order also requires the State Department of Environmental Conservation to conduct an environmental impact investigation into the practice.
The issue became controversial after a company acquired a mothballed power plant on Seneca Lake and got permits to fire it up in order to power its cryptocurrency mining operation. Groups including Seneca Lake Guardian organized to fight the operation in the Finger Lakes and another operation in North Tonowanda.
Both plants are powered by natural gas.