Arkansas Senate Committee Approves Amended Bills to Restrict Crypto Mining

Amended Bills Restricting Crypto Mining in Arkansas Advance in Senate Committee

Amended versions of two bills aimed at imposing stricter regulations on crypto mining in Arkansas have successfully cleared the Senate’s City, County and Local Affairs Committee. Senate Bill 78 and Senate Bill 79, sponsored by Sen. Joshua Bryant and Sen. Missy Irvin, respectively, received approval from the committee after several amendments were made to the bills.

The amendments, which included making each senator a co-sponsor on the other’s bill, were designed to ensure that the two pieces of legislation complemented each other. Both senators emphasized the importance of working together to create the strongest possible language for the bills.

The Arkansas House of Representatives had previously authorized Bryant and Irvin to introduce the bills, rejecting six similar resolutions put forth by Rep. Josh Miller. The resolutions would have allowed Sen. Bryan King to introduce a bill focused on restricting crypto mining operations, but were not approved by the House.

Key changes in the amended bills include clarifications on noise-reduction practices, foreign ownership prohibitions, and penalties for violations. The bills also address concerns over electricity usage by crypto mines, with provisions for interruptible rates and penalties for non-compliance.

Public concerns over the impact of crypto mining on electricity supply, water resources, and local control were also raised during the committee meeting. While some expressed support for the bills’ efforts to address these issues, others remained skeptical about the potential consequences of accommodating the crypto mining industry.

The committee is set to reconvene to further discuss the amended bills and their implications for crypto mining in Arkansas. Stay tuned for updates on this developing story.