New York Governor Kathy Hochul signed a two-year moratorium on new permits for proof-of-work (PoW) cryptocurrency mining operators that rely on carbon-based fuel to power their activities, making NY the first state to outlaw crypto mining.
“The law will prohibit Environmental Conservation Law permits from being issued for two years to proof-of-work cryptocurrency mining operations that are operated through electric generating facilities that use a carbon-based fuel,” reads a memo for the bill.
This absolutely begs the question: What will Governor Hochul do when all the GPU miners start running AI models instead? Asking for a friend.
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About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.