Co-Sponsorship Memo Details

In the near future, I will be introducing legislation that imposes a two-year moratorium on the issuance and renewal of certain air permits related to cryptocurrency mining.  The moratorium would apply to permits for electric generating facilities that provide behind the meter electricity to crypto mining operations that use proof of work authentication.  The bill would also require the Department of Environmental Protection (DEP) to conduct an impact study on cryptocurrency mining and create reporting requirements for cryptocurrency operations.
 
The crypto mining industry is a massive energy user.  Globally, crypto mining consumes more energy than the countries of Argentina and Australia.  This high level of energy usage places more stress on the environment and accelerates the climate crisis, in addition to raising costs for consumers.
 
Please join me in co-sponsoring this important legislation.