Disruption

Cryptocurrency backers push mining bills in states

At least seven are considering legislation that protects the industry from regulations.
A crane is seen at the site of a building holding computer equipment used in cryptocurrency “mining” that relies on electricity from an adjacent coal-fired power plant, on April 20, 2022, in Hardin, Mont. AP Photo/Matthew Brown)

Cryptocurrency advocates are lobbying several states to pass pro-crypto mining legislation to protect the industry from higher electricity rates, noise ordinances and other targeted restrictions.

The push follows “right to mine” wins last year in Arkansas and Montana that were approved as Bitcoin value collapsed and crypto exchange FTX failed. An Arkansas senator has since called for the repeal of his state’s law.

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