Pennsylvania removes 2-year moratorium on BTC mining from its energy bill

A bill aimed at restricting block mining with reward in Pennsylvania, two years passed, but only after the mining moratorium was removed.

Rep. Greg Vitali (D-Delaware) first announcement the Cryptocurrency Energy Conservation Act in June, stating: “Globally, crypto mining consumes more energy than the countries of Argentina and Australia. This high level of energy consumption puts increased pressure on the environment and accelerates the climate crisis, in addition to increasing costs for consumers.

However, the lawmaker had to abandon the mining ban to gain support from his fellow lawmakers. Speaking to local media outlet Pennsylvania Capital Star, he confirmed that the bill had to be gutted or it would not have received the required votes.

“I think I learned the hard way in my first six months as Majority Speaker that there isn’t a lot of tolerance for strong environmental policy…even in my own caucus,” he said. he declared.

Vitali added that strong opposition to sweeping changes to the state’s environmental laws is being pushed by unions. These unions dictate the decisions of some House Democrats, and rather than antagonize them, lawmakers have chosen to protect their party’s interests as the election approaches.

The law project pass this week with a vote of 13-12. Now watered down, it no longer prohibits BTC mining in the state. It requires only that miners report their activities to regulators and that the Pennsylvania Department of Environmental Protection conduct a study of the situation. the impact of the industry.

Pennsylvania has attracted BTC miners in recent years, as has the United States. became the world leader in the area. Idle power plants, tax incentives and cheap energy sources have made Pennsylvania an ideal destination for miners, according to Rob Altenburg of PennFuture, a local nonprofit.

Some miners like Stronghold Digital Mining have bought up unused coal-fired power plants where they have launched mining operations. The company reported in a filing by the Securities and Exchange Commission (SEC), the state subsidizes 60% of its costs because “it burns waste.”

Watch: Think of Bitcoin Mining as Financial Self-Discipline

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