"Right-to-mine" crypto laws are making their way across the U.S.
Gabriel Dance of The New York Times explains why Arkansas is having second thoughts about its law protecting the industry.
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Gabriel Dance of The New York Times explains why Arkansas is having second thoughts about its law protecting the industry.
Bitcoin industry battles increase in US. Environmental concerns grow over energy consumption. Legal fights erupt over mining permits. Community backlash against noise and pollution. State-level laws challenge local regulations on mining operations.
CLIMATE CHANGE-CRYPTOCURRENCY/USA (ANALYSIS):ANALYSIS-Bitcoin environmental battles heat up in US
Scores of the operations have popped up in recent years across the United States. When a mining computer lands on numbers that bitcoin's algorithm accepts, the payout is currently worth about $250,000. The more computers an operation has, the better chance of earning the payout. The industry is often criticized for its vast energy use -- often a boon for the fossil-fuel industry -- and noise is a common complaint.
The state of South Dakota is making moves seeking to redefine what constitutes money, with a keen interest on classifying cryptocurrencies.