RAINS 40/29 NEWS. TODAY THE ARKANSAS STATE SENATE DISCUSSED TWO NEW BILLS ABOUT CRYPTO-CURRENCY MINING. VALERIE ZHANG SPOKE WITH LAWMAKERS AND PEOPLE IMPACTED BY CRYPTO-MINES. “Be kinda like having a hairdryer up next to your ear” “They have received a kind of red carpet to do at their will” “You go to an office and no one’s there” “I’m the original sponsor of Act 851 of 2023 and we’ve learned some things over the last 13 months that we need to address.” TODAY THE SENATE CHAMBER HEARD AMENDMENTS TO TWO BILLS ADDRESSING CRYPTO-MINING. <> “Senate Bill 78, which I am the sponsor of addresses confirming local control and then establishing sound reduction parameters for crypto facilities operating in Arkansas.” THE OTHER BILL — SENATE BILL 79 SPECIFICALLY ADDRESSES REGULATION. <> “what role the state will play in regulating consumption of electrical energy, cybersecurity,” STATE SENATOR JOSHUA BRYANT SAYS CRYPTO MINING IS THE USE OF A BLOCKCHAIN NETWORK. <> “This is simply the solving of the equation. In this case, Bitcoin would be one of them. <> “for folks who are unable to relocate, nobody wants to live next to all these things.” JERRY BOGARD, A FARMER IN ARKANSAS COUNTY SAYS HE HAS LAND relocate, nobody wants to live next to all these things.” JERRY BOGARD, A FARMER IN ARKANSAS COUNTY SAYS HE HAS LAND ABOUT A HALF MILE FROM A CRYPTOMINE. <> “Act 851 basically gave them a sovereign right to not play by the rules.” <> “they weren’t inclined to want to communicate with us in public forums or public meetings. So the animosity grew from there. Then it went past animosity to suspicion” STATE SENATOR BRYAN KING SAYS IT’S DIFFICULT TO KNOW WHO OWNS A CRYPTO- MINE AND THAT RAISES CONCERNS ABOUT CYBER SECURITY. <> “no one answered the phone. But yet it has enough money to be able to hire the most expensive law firms here in the state.” <> “t
One Arkansan described crypto mining noise as ‘kinda like having a hairdryer up next to your ear.’
State Senate chamber hears amendments to crypto mining bills
The Arkansas State Senate chamber heard amendments Tuesday to bills, SB78 and SB79, relating to crypto mining in Arkansas, as part of the 2024 fiscal session. SB78, sponsored by state Sen. Joshua Bryant, addressed local government control over crypto mines and parameters to reduce noise. SB79, sponsored by state Sen. Missy Irvin, addressed the state’s role in regulating the consumption of electrical energy and cybersecurity. On Tuesday, an amendment clarifying the language around blockchain technology was sent back to the City, County, and Local Affairs Committee. It will be heard again on Wednesday. “Crypto mining is the use of a blockchain network. Now, blockchain networks are used by many of our industries and corporations here in Arkansas and have been for years. This is simply the solving of the equation. In this case, Bitcoin would be one of them. But there’s dozens of different kinds of cryptocurrencies. They just may or may not use a blockchain technology. Bitcoin being one that is secure on a blockchain network is just basically solving equations to complete the transaction and the miners are actually paid for their computational power.” said Bryant the state senator for District 32. The Arkansas State Senate hears the entire SB78 on Wednesday.
The Arkansas State Senate chamber heard amendments Tuesday to bills, SB78 and SB79, relating to crypto mining in Arkansas, as part of the 2024 fiscal session.
SB78, sponsored by state Sen. Joshua Bryant, addressed local government control over crypto mines and parameters to reduce noise.
SB79, sponsored by state Sen. Missy Irvin, addressed the state’s role in regulating the consumption of electrical energy and cybersecurity. On Tuesday, an amendment clarifying the language around blockchain technology was sent back to the City, County, and Local Affairs Committee. It will be heard again on Wednesday.
“Crypto mining is the use of a blockchain network. Now, blockchain networks are used by many of our industries and corporations here in Arkansas and have been for years. This is simply the solving of the equation. In this case, Bitcoin would be one of them. But there’s dozens of different kinds of cryptocurrencies. They just may or may not use a blockchain technology. Bitcoin being one that is secure on a blockchain network is just basically solving equations to complete the transaction and the miners are actually paid for their computational power.” said Bryant the state senator for District 32.
The Arkansas State Senate hears the entire SB78 on Wednesday.