New York Clamps Down On Bitcoin Mining In Newly Passed Bill – Forbes

Ethereum, the second-largest cryptocurrency in the world by market cap behind bitcoin, currently also uses proof-of-work authentication.

In the United States, upstate New York has emerged as a popular destination for miners due to its abundance of cheap electric power and unused coal power plants which can be repurposed into massive mining farms. The crypto boom has been met with opposition from locals who fear the environmental impact of these mining operations.

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