Hill, M. (2022, June 3). Landmark bill to limit energy-intensive cryptomining passes New York legislature. PBS. Retrieved August 16, 2022, from https://www.pbs.org/newshour/economy/landmark-bill-to-limit-energy-intensive-cryptomining-passes-new-york-legislature
Earlier this year, Albany, New York passed a bill that would limit the amount of fossil fuel energy that could be used for cryptocurrency mining. The process of mining cryptocurrency uses generators that require absurd amounts of energy. To supply all of this energy, many fossil fuels have to be burned. This heavily impacts the environment and continues to push us into a climate crisis. This bill would not only halt some cryptocurrency mining but would also limit the number of fossil fuels burned into the atmosphere.
This bill is one way to limit the excessive use of energy created from fossil fuels. We need to limit the number of fossil fuels being used, especially in excess, so this is a step in the right direction. If we continue to let cryptocurrency mining consume so much energy from power plants, we begin to threaten our environment greatly. It is not sustainable; therefore we have a right to limit their usage and lead them in a renewable-energy direction.
Love this article. I wonder if this policy is sustainable for more cities around the nation? It seems like it would make a big impact on a larger scale.
Hi, thank you for your question! I think it would be difficult, but considering how much concern there is for climate change relief, I think it’s possible!
I like how they made a federal law to fix the issues also l liked how you said that there is a time span. And are other countries doing this as well?
Hi, thank you for your question! Yes, here are a few other countries that have also banned cryptocurrency mining: Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia