{"id":2211,"date":"2023-10-17T05:28:32","date_gmt":"2023-10-17T05:28:32","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/pennsylvania-house-representative-to-remove-crypto-mining-ban-from-energy-regulation-bill\/"},"modified":"2023-10-17T05:28:33","modified_gmt":"2023-10-17T05:28:33","slug":"pennsylvania-house-representative-to-remove-crypto-mining-ban-from-energy-regulation-bill","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=2211","title":{"rendered":"Pennsylvania House Representative to Remove Crypto Mining Ban from Energy Regulation Bill"},"content":{"rendered":"
\n

A\u00a0Pennsylvania House Representative<\/strong>\u00a0has decided to eliminate a proposed two-year ban on crypto mining from a bill aimed at regulating the sector’s energy consumption.\u00a0<\/p>\n

In\u00a0a Monday filing, the\u00a0Pennsylvania House Environmental Resources and Energy Committee<\/strong>\u00a0approved the Cryptocurrency Energy Conservation Act with a narrow margin of 13 votes in favor and 12 against.\u00a0<\/p>\n

The bill had remained stagnant since its introduction to the Committee on June 21.\u00a0<\/p>\n

Pressure From Democratic Party Leaders Prompts the Removal<\/h2>\n

Democratic Representative Greg Vitali, the Committee’s chair and the bill’s sponsor,\u00a0said in a statement\u00a0to local media outlet The Pennsylvania Capital-Star that he faced pressure from Democratic Party leaders to remove the moratorium from the bill.<\/p>\n

Vitali attributed the influence to building trade labor unions, stating that they consistently opposed environmental policies and had significant sway over his Democratic colleagues.\u00a0<\/p>\n

\n

\u201cFrankly, [the unions have] the ear of House Democrats, and they have the ability to peel off members who would otherwise be supportive of good environmental policy.\u201d<\/p>\n<\/blockquote>\n

He expressed concern that going against the unions would risk the Democratic majority in Pennsylvania’s House, leading him to make the decision to pass the bill without the moratorium.<\/p>\n

Vitali acknowledged that strong environmental policies faced limited support, as he learned during his first six months as the majority chair.\u00a0<\/p>\n

Despite his disappointment, he claimed that passing the bill without the ban was better than not passing it at all.<\/p>\n

The proposed two-year ban would have halted the approval of new and renewed permits for operating crypto mining facilities.\u00a0<\/p>\n

Instead, the revised bill now requires an impact study on miner operations and imposes new reporting requirements.\u00a0<\/p>\n

Miners within the state must submit information on the number and size of their mining sites, energy sources, emissions reports, and energy and water consumption within six months.\u00a0<\/p>\n

Pennsylvania-based crypto miners will be obligated to submit these reports annually, while new miners to the state must do so prior to commencing operations.<\/p>\n

Crypto Miners Are Seeking Alternative Energy Sources<\/h2>\n

The move to remove the ban comes at a time when crypto miners are actively seeking alternative energy sources to reduce costs.\u00a0<\/p>\n

Notably, Stronghold Digital Mining, a crypto mining company, has established operations in Pennsylvania and acquired two coal-burning power plants with the intention of utilizing plant waste to power hundreds of Bitcoin mining rigs.\u00a0<\/p>\n

The company had previously sought approval to burn shredded tires to generate up to 15% of its energy needs, a proposal that faced strong opposition from local environmental groups.\u00a0<\/p>\n

Additionally, TeraWulf, another Bitcoin mining firm, operates a nuclear-powered site in Pennsylvania.<\/p>\n

As\u00a0reported, the shift towards alternative energy sources appears to be a long-term trend among miners aiming for sustainable success.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A\u00a0Pennsylvania House Representative\u00a0has decided to eliminate a proposed two-year ban on crypto mining from a bill aimed at regulating the sector’s energy…<\/p>\n","protected":false},"author":1,"featured_media":2212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-2211","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"\nPennsylvania House Representative to Remove Crypto Mining Ban from Energy Regulation Bill | inFundPros<\/title>\n<meta name=\"description\" content=\"A\u00a0Pennsylvania House Representative\u00a0has decided to eliminate a proposed two-year ban on crypto mining from a bill aimed at regulating the sector's energy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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