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Bitcoin Mining Ban Proposed by New York Gubernatorial Candidate

Tue, 02/01/2022 - 14:47
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Alex Dovbnya
Democratic candidate Jumaane Williams has called for imposing a ban on Bitcoin mining
Bitcoin Mining Ban Proposed by New York Gubernatorial Candidate
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Democrat Jumaane Williams, who launched his bid for governor of New York in December, has called for imposing a moratorium on proof-of-work (PoW) mining.

He pointed to China's recent decision to ban Bitcoin mining, adding that there are other "processes" that are less harmful to the environment.

Williams announced his plan while speaking near a controversial gas-fired power plant operated by Greenidge Generation. It operates near the shore of Seneca Lake, the largest and deepest of the Finger Lakes.

The once-mothballed plant successfully reinvented itself by starting to mine Bitcoin. Last month, it reported a 168% increase in Bitcoin production.

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Local residents are not happy about the business endeavor, complaining that the power plant started "boiling" the iconic lake and led to an increase in greenhouse gas emissions.

Williams says that Bitcoin mining could be devastating for the environment and the local economy:

We know exactly what is going to happen in just a few years if we don’t stop this type of mining.   

After former governor Andrew Cuomo resigned from office due to multiple sexual harassment allegations, a slew of candidates from both parties rushed to step into the breach.

New York's incumbent governor, Kathy Hochul, is the heavy favorite to win the gubernatorial race in November, according to online prediction market PredictIt.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at