The Senate Commerce Committee's vote Thursday on a bill aimed at deregulating crypto mining in New Hampshire was divisive, as senators reported a sharp increase in public feedback on the bill since its last consideration.
As the New Hampshire newspaper first reported, after two deadlocks in which the bill was passed and rejected, the committee ultimately voted 4-2 to send the bill to an interim review for further consideration.
House Bill 639 would prevent local governments from imposing restrictions on cryptocurrency mining, such as power usage or noise regulations, and prohibit state and local governments from imposing specific taxes on digital assets.
If passed, the bill would also give individuals and businesses the right to mine cryptocurrencies, and it would also require the creation of a dedicated blockchain document within the state's Superior Court, with disputes related to cryptocurrencies being handled by judges appointed by the governor.
During the bill's first vote in May, senators tweaked its language and sent it back to committee for more support. The bill, sponsored by Republican Representative Keith Ammon, is expected to be introduced in the full Senate in 2026.
On Thursday, Sen. Tara Reardon, R-Concord, told the New Hampshire Report that the proposal resulted in the most emails she had ever received regarding a single bill.
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Cryptocurrency mining in the US
Crypto mining uses computing power to verify transactions, using secure proof-of-work blockchains like Bitcoin, and rewarding miners with newly created coins in the process.
Although it has been criticized for its high energy consumption and environmental impact, the industry has come a long way since its inception.
The share of coal in Bitcoin mining has fallen from 63% in 2011 to 20% in 2024, according to a new report from MiCA Crypto Alliance and data firm Nodiens. Over the same period, the use of renewable energy in mining has steadily increased, increasing by an average of 5.8% per year.
Still, some U.S. states are trying to offset energy consumption with state taxes. On October 2nd, New York State Senator Liz Krueger introduced a bill that would impose a graduated excise tax on energy used in crypto mining operations.
The measure would exempt miners consuming up to 2.25 million kilowatt-hours (kWh) per year, while those using 2.26 million to 5 million kWh would be subject to a tax of 2 cents per kWh.
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