– Pennsylvania House Representative removes proposed two-year ban on crypto mining from bill
– Bill aimed at regulating the sector’s energy consumption
– Pressure from Democratic Party leaders prompts removal of ban
– Building trade labor unions exert influence on Democratic colleagues
– Passing bill without ban seen as necessary to maintain Democratic majority
– Revised bill now requires impact study on miner operations and new reporting requirements
– Crypto miners in Pennsylvania must submit information on mining sites, energy sources, emissions reports, and consumption
– Miners seek alternative energy sources to reduce costs
– Stronghold Digital Mining acquires coal-burning power plants to power Bitcoin mining rigs
– TeraWulf operates nuclear-powered site for Bitcoin mining
– Shift towards alternative energy sources is a long-term trend among miners seeking sustainability.
Pennsylvania House Representative Greg Vitali has removed a proposed two-year ban on cryptocurrency mining from a bill aimed at regulating the sector’s energy consumption. The bill, called the Cryptocurrency Energy Conservation Act, was approved by the Pennsylvania House Environmental Resources and Energy Committee with a narrow margin of 13 votes in favor and 12 against. Vitali cited pressure from Democratic Party leaders as the reason for removing the ban, specifically from building trade labor unions who consistently oppose environmental policies. He expressed concern that going against the unions would risk the Democratic majority in Pennsylvania’s House. The revised bill now requires an impact study on miner operations and imposes new reporting requirements. Miners in Pennsylvania must submit information on the number and size of their mining sites, energy sources, emissions reports, and energy and water consumption. Cryptocurrency miners in the state are actively seeking alternative energy sources to reduce costs, as evidenced by Stronghold Digital Mining’s acquisition of two coal-burning power plants to utilize plant waste for mining operations. The shift towards alternative energy sources is a long-term trend among miners aiming for sustainable success.
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