Mining

As the value of bitcoin soars and concerns rise about the energy-intensive process needed to obtain it, cryptocurrency entrepreneurs in the United States believe they have found a solution in flared natural gas. Profitably creating, or mining, bitcoin and other cryptocurrencies requires masses of computers dedicated to solving deliberately complicated equations — an endeavor that…

New York State Senate Energy and Telecommunications Committee Chairman Kevin Parker introduced a bill that proposes a moratorium on mining cryptocurrency using electricity generated by burning fossil fuels in the state for a period of three years. The senator argues that the mining of cryptocurrency should be banned to reduce the negative impact on the…