The Arkansas state government has passed a new right-to-mine bill, which grants certain mining companies the legal right to extract minerals from privately owned land with consent from the owner. This new bill aims to encourage mining and economic growth in the state.
Arkansas Protects Local Right to Mine Cryptocurrency with New Bill
Arkansas is the latest U.S. state to pass a law aimed at protecting the local mining of cryptocurrencies, as seen in state legislature records. This new bill, known as The Arkansas Data Centers Act of 2023, prohibits local governments from imposing certain restrictions on crypto mining activities.
The bill was passed by the House and Senate on April 6 and enrolled and sent to Governor’s office, where approval is required, on April 7. Its main objective is to prevent local governments from creating laws that apply specifically to crypto mining operations, such as targeted anti-noise laws, zoning laws, and business laws.
The law also empowers mining firms to appeal zoning changes, making it easier for them to operate in certain areas. Additionally, Arkansas’ public utility provider should not impose “unreasonably discriminatory rates” on crypto mining customers.
With the passing of this new bill, Arkansas joins the ranks of two other U.S. states, Missouri and Montana, which have passed similar mining protection bills. According to CryptoSlate, other jurisdictions have imposed restrictions on mining, often below the state level.
Crypto mining is the process of validating transactions within a blockchain network and creating new digital tokens. The process is energy-intensive and requires specialized hardware that can be loud and generate heat. As such, some local governments impose restrictions on mining to manage noise, energy consumption, and emissions.
However, some proponents argue that crypto mining is an important industry that brings jobs and investment to local communities. The passing of these mining protection bills is seen as a step in the right direction towards creating a more crypto-friendly regulatory environment.
In conclusion, Arkansas’ passing of The Arkansas Data Centers Act of 2023 is a win for crypto miners in the state, providing them with greater protection and making it easier for them to operate. With this new law, Arkansas joins the ranks of other U.S. states that have passed similar mining protection bills, and it is hoped that other jurisdictions will follow suit.
1. Arkansas Passes New Bill to Protect Local Cryptocurrency Mining
2. The Arkansas Data Centers Act of 2023: Advancing Crypto Mining Rights in Arkansas