CORRECTION: New York City Mayor Eric Adams said he will ask Governor Kathy Hochul to veto a bill that would impose a two-year moratorium on proof of work (PoW) mining, according to reports. GregAhl reports.
in May, would impose a two-year moratorium on new PoW mining projects powered by carbon-based fuel in the Empire State, though existing mining firms or ones currently undergoing the permit renewal process would be allowed to continue operations. The Senate voted 36-27 in favor of the bill.
According to the bill's Democratic sponsor, state Sen. Kevin Parker of Brooklyn, there is only one such plant in current operation that wouldn't be affected by the bill. He added that there is one pending application that may be put on hold until the study has concluded. During the moratorium, the state will conduct a study on the potential environmental impact of proof-of-work mining.
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