New York's crypto mining restrictions are the nation's first

New York’s crypto mining restrictions are the nation’s first

Politicians and environmental organisations have expressed concern that crypto mining, especially proof-of-work mining, uses excessive amounts of electricity. The computationally complex process increases the burden on the electrical grid, prompting several mining companies in New York to construct natural gas-powered power plants to keep their operations running. The bitcoin community has sometimes attempted to mitigate the damage. Ethereum, for example, just completed a transition to a less energy-hungry “proof-of-stake” mechanism based on user validation.