NY bill aims to limit crypto miners using fossil fuel-generated power

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The New York State Legislature has passed a bill that would impose a two-year moratorium

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on the use of fossil-fuel power plants to provide energy to miners of cryptocurrencies

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but Governor Kathy Hochul's office on Monday said she had not yet decided whether to sign it.

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Cryptocurrency mining requires a lot of electricity to power computer systems

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that compete to solve mathematical puzzles to validate blockchain transactions.

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The miner who solves the puzzle first is rewarded with cryptocurrency.

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The State Assembly passed the bill in April and the Senate passed it late last week.

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The governor's office said on Monday she was still weighing whether to sign the bill.

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