Proposed Oregon Bill Requires Crypto Miners to Cut Emissions 60% by 2027

According to Blockworks, lawmakers in the U.S. state of Oregon have submitted a bill aimed at curbing carbon emissions from “energy-intensive” facilities such as cryptocurrency mining, with the goal of reducing emissions by 60% by 2027, with the proposed new baseline setting 0.428 metric tons of carbon dioxide equivalent per MW, and require crypto companies to reduce emissions according to the following schedule: 80% reduction by 2030, 90% by 2035, and zero emissions after 2040. Failure to comply will result in a $12,000/MW civil penalty. The bill has only just been introduced to the Legislature and committees have not yet been assigned and hearings held, a process that could take two to three weeks.