New York, Bitcoin’s number one enemy? – A new bill has just been introduced to the New York State Senate. The latter aims to halt cryptocurrency mining operations in the state for several years. The cause: the potential damage to the climate and the local environment. A feeling of déjà vu? Nothing could be more normal, because this theme has been the subject of debate in the cryptosphere for a long time.
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A bill against Bitcoin …
Bill No. 6486 was present by the senator Kevin Parker, known in particular for having already put forward other projects, with the common objective of helping the State of New York to achieve its climate goals. However, bitcoin mining is the subject of a attention increasing due to the (assumed) staggering carbon footprint linked to its electricity consumption.
According to a new analysis from Digiconomist, the global footprint of bitcoin mining is approximately 53 megatons of carbon dioxide per year, or the equivalent of Sweden’s emissions. Recently it was the turn of the northern state of New York to become a hotbed of BTC mining activity, and other sites and farms may be in the development phase.
Small towns in the north of the state, especially Dresden and Alcoa, are those where mining operations are implanted these last years. Some opportunists have converted the abandoned power plants that haunt these cities into real factories to produce bitcoins. In some cases, they provide part of the electricity to the network, while the rest is used to run their mining machines. These operations allowed the new owners to make a profit and did not fail to raise eyebrows more than one defender of the environment, and this even if the argument of a Bitcoin whose energy consumption would be “too” high ”Has been defeated on numerous occasions, including by its creator himself.
… and already contested by Miami
However, this decision has aroused multiple criticisms, especially from the mayor of Miami, Francis Suarez, who said on Twitter:
“This is another step for New York in the wrong direction. Miami can mine bitcoin using clean nuclear power provided by InsideFPL. We want to be the cryptocurrency mining capital of the world, and know it can be done in a sustainable way and incorporate solar. “
To achieve this goal, the mayor of Miami said he was in the process of « remodeler » the city. Thanks to this new direction, the titans of technology and finance flocked to Miami during the pandemic.
While Miami is opening its arms wide to Bitcoin and cryptocurrency, the whole country is not. New York Senator Kevin Parker seems determined to stop mining activities so as not to suffer its adverse effects. However, the real trend of bitcoin mining funds seems to be geared towards protecting the environment.
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