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S 3347

Directs the New York state energy research and development authority to conduct a study on powering cryptocurrency mining facilities with renewable energy

2025 Regular Session Introduced by Jeremy Cooney and 3 co-sponsors

NYSERDA must study feasibility of powering cryptocurrency mining with renewable energy and its effects on the grid, policy, and consumers.

REFERRED TO ENERGY AND TELECOMMUNICATIONS
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Bill Summary · S 3347

Summary of Bill S 3347 — New York

Bill at a glance

  • Bill number: S 3347
  • Title: Directs the New York state energy research and development authority to conduct a study on powering cryptocurrency mining facilities with renewable energy
  • Status: REFERRED TO ENERGY AND TELECOMMUNICATIONS
  • Introduced: January 27, 2025
  • Primary sponsor: Kevin S. Parker
  • Cosponsors: Luis R. Sepúlveda, Jeremy Cooney, Jessica Ramos
  • Related bills (prior-session): S 6584, S 7906

Purpose and intent

S 3347 requires the New York State Energy Research and Development Authority (NYSERDA) to undertake a study examining the feasibility and implications of powering cryptocurrency mining facilities with renewable energy. The bill aims to assess whether renewable energy sources can support crypto mining operations in a manner compatible with energy policy, environmental considerations, and grid reliability. The bill text provided does not specify the study’s exact scope, methodology, or deliverables within this summary.

Key provisions

  • Directive to NYSERDA: The bill directs NYSERDA to conduct a formal study on powering cryptocurrency mining facilities with renewable energy.
  • Study focus (not explicitly defined in the summary): While the bill states the study requirement, the precise scope, data to be collected, analysis methods, and expected deliverables are not detailed here.
  • Reporting or outputs: The summary does not specify a reporting deadline or format; such details may appear in the bill’s full text or subsequent amendments.

Affected parties and potential impact

  • NYSERDA: Primary agency responsible for performing the study.
  • Cryptocurrency mining facilities: Potential participants or data sources for the study; the findings could influence regulatory or policy considerations affecting their operations.
  • Energy sector and consumers: Results could inform policy directions on renewable energy deployment, grid management, and energy prices.
  • Broader policy context: The bill aligns with ongoing questions about the environmental and grid impacts of cryptocurrency mining and the role of renewable energy in industrial energy use.

Procedural history and status

  • Introduced and first referred on January 27, 2025.
  • Referrals listed as: ENERGY AND TELECOMMUNICATIONS (noted twice in the record, possibly duplicate entry in the legislative record).

Related legislation

  • S 6584 (prior-session)
  • S 7906 (prior-session)
  • These related bills suggest ongoing legislative interest in crypto mining and energy policy, potentially addressing similar themes in earlier sessions.

Next steps and considerations

  • If enacted, NYSERDA would undertake and complete the mandated study and report findings to the Legislature (specific reporting timeline not provided in this summary).
  • Stakeholders may monitor for a detailed scope, methodology, and deliverables in the bill’s full text or subsequent amendments.
  • The outcome could influence future NYSERDA programs, energy policy, and any regulatory decisions related to cryptocurrency mining and renewable energy integration.

Compiled from official sources — confirm details with the bill’s official record.

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