However, advocates of the bill noted that existing facilities would remain unaffected by the bill, as well as any facilities that tap renewable resources. The bill itself specifies that the New York Department of Energy “shall not approve a new application for or issue a new permit … for an electric generating facility that uses a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric energy consumed or utilized by cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions.”
Bitcoin Price (BTC) Falls 4% in U.S. Morning Hours
The news combined to send the U.S. dollar and bond yields modestly higher, but had little effect on stocks. Bitcoin,...