senate Bill S6584

2021-2022 Legislative Session

Directs the New York state energy research and development authority to conduct a study on powering cryptocurrency mining facilities with renewable energy

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Energy And Telecommunications Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 07, 2021 referred to energy and telecommunications

Co-Sponsors

S6584 (ACTIVE) - Details

See Assembly Version of this Bill:
A7866
Current Committee:
Senate Energy And Telecommunications
Law Section:
Energy

S6584 (ACTIVE) - Summary

Directs the New York state energy research and development authority to conduct a study on powering cryptocurrency mining facilities with renewable energy.

S6584 (ACTIVE) - Sponsor Memo

S6584 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6584
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                May 7, 2021
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations
 
 AN  ACT  directing  the  New  York state energy research and development
   authority to conduct a study on powering cryptocurrency mining centers
   with renewable energy

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  a. The state energy research and development authority is
 hereby directed to conduct a study  on  powering  cryptocurrency  mining
 centers in New York state.
   b. For purposes of this act:
   (i) "cryptocurrency" shall mean a digital currency in which encryption
 techniques are used to regulate the generation of units and currency and
 verify  the  transfer  of  funds, operating independently from a central
 bank;
   (ii) "mining" shall mean the process of  spending  computer  power  to
 process  transactions  and  add such transactions to a cryptocurrencies'
 blockchain;
   (iii) "blockchain" shall mean a digital ledger in  which  transactions
 made in cryptocurrencies are recorded chronologically and publicly.
   c. The study shall include, but not be limited to:
   (i)  a  survey  of  existing cryptocurrency mining centers in New York
 state, and whether and to what extent such centers are powered by renew-
 able energy;
   (ii) an evaluation of the economic and technical feasibility of power-
 ing all cryptocurrency mining centers in the state with renewable energy
 and the construction of additional facilities powered by renewable ener-
 gy;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11239-01-1

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