New York lawmakers passed legislation banning the use of carbon-based energy sources for the mining of Bitcoin. If the bill goes into law by Gov. Kathy Hochul, it could have an impact on companies currently mining Bitcoin.
New York would be the first state in the U.S. to ban particular Bitcoin (CRYPTO: BTC) mining, which could have a ripple effect across the country.
What Happened: One company that could be affected by the Bitcoin mining legislation in New York is Marathon Digital Holdings Inc (NASDAQ: MARA) whose CEO shared comments about the bill.
“It was passed to stop fossil fuel based power generating sources in New York. If they have wanted to do that, it would have been much more practical just put in place a moratorium that was not industry-specific,” Marathon Digital CEO Fred Thiel said.
Thiel questioned why the bill targets Bitcoin specifically …
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