New York's Mining Ban: What Does It Mean?

Saw some news about NY passing a law to shut down Bitcoin mining in the state. Totally nuts, right?

Honestly, I don't think it'll change much. Most of the new mining outfits there are already using renewable energy. Plus, in NY, you can just buy green energy credits. Easy.

Interesting take! But do you think ASIC manufacturers will actually step up their game? Like, make gear that's more efficient?

This has come up before. Miners are getting more efficient, but they just keep adding more chips for extra power. So it’s like they’re just moving the goalposts, using less power per hash, but more hashes overall.

That’s not really helping with the energy issue. Just common sense here.

And let’s not forget places like Greenidge Energy and DigiHost. These guys are running gas plants and calling it ‘green’.

Yeah, mining isn’t static. Prices can fluctuate. A Bitcoin crash means miners gotta cut back on energy costs, so they could switch to greener options if it saves cash.

Exactly! When I said all the new setups are promising renewable, I meant it but seriously, it’s just for show. The government loves the PR.

But what do you even classify as new? Like, DigiHost has been slow rolling their gas plant. It's just getting started.

True. We can't ignore the actual operations that are active now. Those are why they’re cracking down, not just hypothetical future plans.

Yeah, I feel like there’s still a lot of old tech being used in the mining scene. Just a bit disappointing.

The real question is, will carbon-based mining in the US get punished, while solar gets rewards? That would be a better system than what NY is doing.

I ain't debating all that. Just pointing out this looks more like a political stunt than real change. Until prices go up again, no new permits are gonna come through.

I see it differently. Tech can improve in a way that keeps hash rates high but cuts energy use in half. It’ll take time, though.

They’ll only load up more chips on hardware, it’s the same story. I don't see them lowering the power draw per unit anytime soon.

Facts. You gotta understand the economics: the power out there is limited, but demand is rising. More efficiency just means more competition.

If NY really wanted to incentivize solar mining, they’d provide better subsidies for it instead of just enforcing fines.

What’s your setup like? All solar, or a mix? I don’t have a big say in these laws, just my opinion.

Man, they’re just pushing for more solar/wind incentives. Carbon mining is hitting its limit. This NY law is like a test run for forcing better practices.

Thanks for sharing what you’re seeing. The balance between carbon and solar sounds smart. Is NJ looking to follow NY’s playbook?