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New York Governor Signs A Bitcoin Mining Law

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Kathy Hochul, Governor of New York, signs the first law in its genre to ban bitcoin mining.

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This refers to a ban on certain Bitcoin mining operations that use carbon-based energy sources.

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According to the details, Proof-of-work mining companies will only be able to extend or renew permits in the next two years if they use 100% renewable electricity.

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In addition, Newcomers are not allowed to access the internet.

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It's an important step in New York's efforts to reduce its carbon footprint, the governor said.

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Proof-of-work mining is very energy-intensive and can be used to create bitcoins, among other tokens.

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With 38% of all the world's Bitcoin miners, the United States is at the forefront of the global Bitcoin mining industry.

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