North Carolina Bill Seeks to Regulate Crypto Mining in Henderson, Polk, and Rutherford Counties

The North Carolina legislature is considering a new bill that could have a significant impact on the crypto mining industry in Henderson, Polk, and Rutherford Counties. Senate Bill 774, sponsored by Republican Sen. Tim Moffit, would give these counties the authority to prohibit or regulate crypto mining within their borders.

Crypto mining, the process by which bitcoin transactions are verified and new coins are created, has become a controversial issue due to its high electricity consumption and environmental impact. The noise pollution generated by the powerful computers used in mining operations has also raised concerns in local communities.

The proposed bill comes in response to growing backlash from residents and officials in these counties. Cherokee County previously attempted to address the issue by requesting more regulatory power from the state legislature, but those efforts were unsuccessful.

In May 2023, Henderson County implemented a temporary ban on new crypto mining operations, citing concerns about noise and electricity usage. The new bill would give these counties more permanent authority to address these issues.

It remains unclear what prompted the introduction of the bill, as Sen. Moffit’s office did not respond to requests for comment. However, if passed, the law would only apply to Henderson, Polk, and Rutherford Counties and their municipalities, potentially setting a precedent for other counties in the state facing similar challenges with crypto mining.