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June 3, 2022

Moratorium on Fossil Fuel Power Plants for Cryptocurrency Mining Passed by Senate, Gov. Hochul Can Protect NY’s Environment and People by Signing into Law

First-in-nation cryptocurrency moratorium places two-year pause on fossil fuel burning mining operations pending environmental review

Contacts

Nydia Gutiérrez, Earthjustice

Albany, NY

After midnight, the NYS Senate passed the first-in-nation cryptocurrency mining moratorium bill, and now all eyes are on Gov. Hochul to sign into law. While the bill would not cover fossil fuel burning crypto mining operations that have already applied for new or renewed air permits, it would ensure that any future facilities could not receive air permits for two years, while the State Department of Environmental Conservation conducts a thorough study on of proof-of-work crypto mining. Environmental advocates will continue to ensure the measure makes it across the finish line and is signed by Governor Hochul.

The following statement is attributed to Liz Moran, New York policy advocate for Earthjustice:

“In the face of industry lies and tremendous spending, the New York Senate has stood up for New Yorkers and our landmark climate law with the passage of this crucial bill to address crypto mining in fossil fuel power plants,” said Liz Moran, New York policy advocate for Earthjustice. “With this bill’s passage, the legislature has rightly said fossil fuel power plants can’t get a second life in New York just for private industry gain, which would fly in the face of the state’s climate mandates. We applaud the Senate for passing this bill and thank Senator Parker and Assemblymember Kelles for shepherding this through. Governor Hochul should not hesitate to sign this bill into law.”

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