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Gov. Kathy Hochul has signed into law a bill curbing cryptocurrency mining at old fossil fuel plants despite a high-profile push by Bitcoin-loving Mayor Eric Adams to get her to veto the legislation.
Environmentalists had pushed for Hochul to impose a two-year moratorium on new permits for crypto mining at mothballed fossil fuel plants amid ongoing efforts to reduce state greenhouse gas emissions 85% by 2050 per a landmark 2019 climate law.
“I am signing this legislation into law to build on New York’s nation-leading Climate Leadership and Community Protection Act, the most aggressive climate and clean energy law in the nation, while also continuing our steadfast efforts to support economic development and job creation in upstate New York,” Hochul said in signing the bill into law.
