NY Democrats Propose Companion Bill Targeting Proof-of-Work Mining

In brief

• Assembly Bill 9138, introduced Friday in the New York State Assembly, would tax proof-of-work miners based on electricity consumption, with rates ranging from 2 to 5 cents per kilowatt-hour.
• The companion bill to Senate Bill 8518 would funnel collected taxes into New York’s Energy Affordability Programs for low- to moderate-income households.
• Mining operations using renewable energy…