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These machines, known as mining rigs, work round the clock to find new units of cryptocurrency.

Benjamin Hall | CNBC

New York Gov. Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years, unless a proof-of-work mining company uses 100% renewable energy, it will not be allowed to expand or renew permits, and new entrants will not be allowed to come online.

“It is the first of its kind in the country,” Hochul said in a legal filing detailing her decision.

The governor added that it was a key step for New York, as the state looks to curb its carbon footprint, by cracking down on mines that use electricity from power plants that burn fossil fuels. The law also comes as the crypto industry reels from the implosion of Sam Bankman-Fried’s FTX, which was once one of the most popular and trusted names in the industry.

Can crypto clean up its dirty image?

New York’s mining law, which passed the state assembly in late April and the state senate in June, calls for a two-year moratorium on certain cryptocurrency mining operations which use proof-of-work authentication methods to validate blockchain transactions. Proof-of-work mining, which requires sophisticated gear and a lot of electricity, is used to create bitcoin, among other tokens.

Industry insiders tell CNBC it could have a domino effect across the U.S., which is currently at the forefront of the global bitcoin mining industry, accounting for 38% of the world’s miners.

“The approval will set a dangerous precedent in determining who may or may not use power in New York State,” the Chamber of Digital Commerce wrote in a statement.

Read more about tech and crypto from CNBC Pro

It is a sentiment echoed by Kevin Zhang of digital currency company Foundry.

“Not only is it a clear signal that New York is closed for business to bitcoin miners, it sets a dangerous precedent for singling out a particular industry to ban from energy usage,” said Zhang, Foundry’s senior vice president of mining strategy.

The net effect of this, according to Perianne Boring of the Chamber of Digital Commerce, would weaken New York’s economy by forcing businesses to take jobs elsewhere.

“This is a significant setback for the state and will stifle its future as a leader in technology and global financial services. More importantly, this decision will eliminate critical union jobs and further disenfranchise financial access to the many underbanked populations living in the Empire State,” Boring previously told CNBC.

As for timing, the law took effect after governor signed off.

Chamber of Digital Commerce explains effects of Terra turmoil on consumer protection

The irony of banning bitcoin mining

One section of the law involves conducting a statewide study of the environmental impact of proof-of-work mining operations on New York’s ability to reach aggressive climate goals set under the Climate Leadership and Community Protection Act, which requires New York’s greenhouse gas emissions be cut by 85% by 2050.

Boring tells CNBC the recent swell of support for the ban is related to this mandate to transition to sustainable energy.

“Proof-of-work mining has the potential to lead the global transition to more sustainable energy,” Boring told CNBC’s Crypto World, pointing to the irony of the moratorium. “The bitcoin mining industry is actually leading in terms of compliance with that Act.”

The sustainable energy mix of the global bitcoin mining industry today is estimated to be just under 60%, and the Chamber of Digital Commerce has found that the sustainable electricity mix is closer to 80% for its members mining in the state of New York.

“The regulatory environment in New York will not only halt their target – carbon-based fuel proof of work mining – but will also likely discourage new, renewable-based miners from doing business with the state due to the possibility of more regulatory creep,” said John Warren, CEO of institutional-grade bitcoin mining company GEM Mining.

A third of New York’s in-state generation comes from renewables, according to the latest available data from the U.S. Energy Information Administration. New York counts its nuclear power plants toward its 100% carbon free electricity goal, and the state produces more hydroelectric power than any other state east of the Rocky Mountains.

The state also has a chilly climate, which means less energy is needed to cool down the banks of computers used in crypto mining, as well as a lot of abandoned industrial infrastructure that’s ripe for repurposing. 

At the Bitcoin 2022 conference in Miami in April, former presidential candidate and New Yorker Andrew Yang told CNBC that when he speaks to people in the industry, he has found mining operations can help develop demand for renewable energy.

“In my mind, a lot of this stuff is going to end up pushing activity to other places that might not achieve the goal of the policymakers,” said Yang.

Andrew Yang explains how crypto and a universal basic income could intersect

Some in the industry aren’t waiting for the state to make a ban official before taking action.

Earlier this year, data from digital currency company Foundry showed New York’s share of the bitcoin mining network dropped from 20% to 10% in a matter of months, as miners began migrating to more crypto-friendly jurisdictions in other parts of the country.

“Our customers are being scared off from investing in New York state,” said Foundry’s Zhang.

“Even from Foundry’s deployments of $500 million in capital towards mining equipment, less than 5% has gone to New York because of the unfriendly political landscape,” continued Zhang.

The domino effect

Now that the crypto mining moratorium has been signed into law by the governor, it could have a number of follow-on effects.

Beyond potentially stifling investment in more sustainable energy sources, industry advocates tell CNBC that each of these facilities drives significant economic impact with many local vendors consisting of electricians, engineers, and construction workers. An exodus of crypto miners, according to experts, could translate to jobs and tax dollars moving out of state.

“There are many labor unions who are against this bill because it could have dire economic consequences,” said Boring. “Bitcoin mining operations are providing high-paying and high-grade, great jobs for local communities. One of our members, their average pay is $80,000 a year.”

Hochul addressed some of these concerns in her statement on Tuesday, noting that she recognized the important of “creating economic opportunity in communities that have been left behind” and that she will “continue to invest in economic development projects that create the jobs of the future.”

As Boring points out, New York is a leader when it comes to state legislation, so there is also the potential for a copycat phenomenon rippling across the country.

“Other blue states often follow the lead of New York state and this would be giving them an easy template to replicate,” said Foundry’s Zhang.

“Sure, the network will be fine — it survived a nation-state attack from China last summer — but the implications for where the technology will scale and develop in the future are massive,” continued Zhang.

However, many others in the industry think concerns over the fallout of a mining moratorium in New York are overblown.

Multiple miners told CNBC there are plenty of friendlier jurisdictions: Georgia, North Carolina, North Dakota, Texas and Wyoming have all become major mining destinations.

Texas, for example, has crypto-friendly lawmakers, a deregulated power grid with real-time spot pricing, and access to significant excess renewable energy, as well as stranded or flared natural gas. The state’s regulatory friendliness toward miners also makes the industry very predictable, according to Alex Brammer of Luxor Mining, a cryptocurrency pool built for advanced miners.

“It is a very attractive environment for miners to deploy large amounts of capital in,” he said. “The sheer number of land deals and power purchase agreements that are in various stages of negotiation is enormous.”

FTX heads to a Delaware courtroom as the biggest crypto bankruptcy case yet gets underway

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Podcast: New Tesla Model Y unveil, Mazda 6e, Aptera solar car production-intent, more

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January 10, 2025

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Podcast: New Tesla Model Y unveil, Mazda 6e, Aptera solar car production-intent, more

electrek podcast

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the official unveiling of the new Tesla Model Y, Mazda 6e, Aptera solar car production-intent, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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Environment

BYD’s new Han L EV just leaked in China and it’s a monster

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January 10, 2025

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BYD's new Han L EV just leaked in China and it's a monster

BYD-Han-L-EV

The Chinese EV leader is launching a new flagship electric sedan. BYD’s new Han L EV leaked in China on Friday, revealing a potential Tesla Model S Plaid challenger.

What we know about the BYD Han L EV so far

We knew it was coming soon after BYD teased the Han L on social media a few days ago. Now, we are learning more about what to expect.

BYD’s new electric sedan appeared in China’s latest Ministry of Industry and Information Tech (MIIT) filing, a catalog of new vehicles that will soon be sold.

The filing revealed four versions, including two EV and two PHEV models. The Han L EV will be available in single- and dual-motor configurations. With a peak power of 580 kW (777 hp), the single-motor model packs more power than expected.

BYD’s dual-motor Han L gains an additional 230 kW (308 hp) front-mounted motor. As CnEVPost pointed out, the vehicle’s back has a “2.7S” badge, which suggests a 0 to 100 km/h (0 to 62 mph) sprint time of just 2.7 seconds.

BYD-Han-L-EV
BYD Han L EV (Source: China MIIT)

To put that into perspective, the Tesla Model S Plaid can accelerate from 0 to 100 km in 2.1 seconds. In China, the Model S Plaid starts at RBM 814,900, or over $110,000. Speaking of Tesla, the EV leader just unveiled its highly anticipated Model Y “Juniper” refresh in China on Thursday. It starts at RMB 263,500 ($36,000).

BYD already sells the Han EV in China, starting at around RMB 200,000. However, the single front motor, with a peak power of 180 kW, is much less potent than the “L” model. The Han EV can accelerate from 0 to 100 km/h in 7.9 seconds.

BYD-Han-L-EV
BYD Han L EV (Source: China MIIT)

At 5,050 mm long, 1,960 mm wide, and 1,505 mm tall with a wheelbase of 2,970 mm, BYD’s new Han L is roughly the size of the Model Y (4,970 mm long, 1,964 mm wide, 1,445 mm tall, wheelbase of 2,960 mm).

Other than that it will use a lithium iron phosphate (LFP) pack from BYD’s FinDreams unit, no other battery specs were revealed. Check back soon for the full rundown.

Source: CnEVPost, China MIIT

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Tenways’ new chain-drive CGO600 Pro e-bike returns to $1,399 low, ALLPOWERS New Year sale, Camplux water heater lows, Anker, more

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January 10, 2025

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Tenways' new chain-drive CGO600 Pro e-bike returns to ,399 low, ALLPOWERS New Year sale, Camplux water heater lows, Anker, more

Today’s Green Deals are closing out the week by headlining Tenways’ new 8-speed CGO600 Pro e-bike that is getting $118 in free gear while down at its $1,399 low during the brand’s New Year sale, with the other models seeing similar offers. We also have New Year savings from ALLPOWERS across a collection of power stations and bundle packages, with bonus gifts and extra 10% off promotions – all starting from $89. For folks struggling to enjoy shower time, Camplux’s 18kW and 27kW Electric Tankless Water Heaters sitting at their lowest rates from $240 for the time being. We also spotted a further drop in price on Anker’s SOLIX C200 DC 60,000mAh Power Bank Station to its all-time low of $100 too. Plus, all the other hangover Green Deals can be found in the links at the bottom of the page, like yesterday’s phase 2 of EcoFlow’s New Year sale, the $1,000 in savings on LG’s all-in-one washer/dryer combo, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Tenways returns new 8-speed CGO600 Pro e-bike with free gear to $1,399 low in New Year sale ($500 off)

Tenways is wishing folks a happy 2025 by launching a New Year flash sale that is bringing back some Black Friday pricing while the month is still fresh, complete with price cuts and extra savings in promo code form. The most notable model benefitting from this sale is the new CGO600 Pro 8-speed chain-drive e-bike for $1,399 shipped, after using the promo code HAPPY2025TW at checkout to save the extra $200. This new model was released back in October carrying a $1,899 price tag, which cut down costs in the brand’s Black Friday and Christmas sales – first to the $1,399 low, next to $1,599. That same low price is returning again today for the second time, saving you $500. Tenways’ more veteran belt-drive CGO600 Pro e-bike is also down at $1,399 shipped, after using the promo code, its second-lowest rate sitting $100 above its Black Friday low. There are also extra savings for medical providers, military members, first responders, and teachers, with verification slashing an additional $150 off your purchase.

Ideal for folks who enjoy active cycling but also want the option for electric support, Tenways’ CGO600 Pro e-bike weighs in at just 37 pounds, making it very manageable in urban environments. You won’t find any throttle on this model, as the cut-down weight partly comes from the smaller 350W rear hub motor and 360Wh battery, which still provide significant support via four PAS levels (activated with a torque sensor) that cover your efforts for up to 53 miles on one charge, topping out at 20 MPH speeds.

As stated before, Tenways offers two drivetrain options for the CGO600 Pro e-bikes – either the Gates carbon belt drive for quieter operations or the new 8-speed Shimano drivetrain (which also gets the brand’s newest motor too). Aside from those big differences, you’ll enjoy the same features elsewhere on the bikes, with internally routed cables for a streamlined look, LED lighting, puncture-proof tires, Tektro dual-piston hydraulic brakes, and a compact OLED display for controls. You’ll also be getting $118 in free gear in the form of lightweight mudguards and a kickstand.

***Note: The prices below have had the additional $200 promo code factored in – but be sure to use it (HAPPY2025TW) at checkout to maximize savings!

Tenways New Year flash sale e-bike discounts:

  • CGO800S Step-Thru Commuter e-bike: $1,599 (Reg. $1,999)
    • 20 MPH for up to 53 miles
    • Turn-signaling and color display
    • comes with $227 in free gear
  • AGO X Step-Over Urban e-bike: $1,799 (Reg. $2,499)
    • 20 MPH for up to 62 miles
    • Shimano 10-speed drivetrain
    • comes with $307 in free gear
  • AGO T Step-Thru Premium e-bike: $2,499 (Reg. $2,699)
    • 20 MPH for up to 62 miles
    • Enviolo stepless shifting hub
    • comes with $178 in free gear
ALLPOWERS New Year power station sale

ALLPOWERS is helping folks prep for the rest of the year with its New Year sale through January 26 that is taking up to 48% off its backup power units, with orders also getting an additional 10% struck from the price thanks to the promo code AF2025 being used at checkout, as well as some bonus gifts. One of the brand’s best-selling solar generator packages, the R2500 Portable Power Station paired with a 200W solar panel has been dropped to $1,043.10 shipped, after using the promo code AF2025 at checkout for the additional 10% in savings. This combination would normally cost you $1,599 at full price, with this sale dropping it lower than we’ve ever seen direct from ALLPOWERS. While we have seen it go lower at third-party dealers over on Amazon, this is still a solid $556 in savings, dropping it amongst the lowest tracked rates there.

As we’ve seen with similar sales, aside from the 10% off promo code for your total order, ALLPOWERS is also giving away free gifts at certain thresholds while its New Year sale continues. You’ll receive a free 100W solar panel on orders over $1,800 or a free 200W solar panel on orders over $2,800.

Ready to cover your trips out of the home or even support appliances through blackouts, ALLPOWERS’ R2500 power station offers a 2,016Wh LiFePO4 capacity housed within a streamlined formfactor. It’s capable of power output up to 2,500W regularly through its 14 port options, able to peak up to 4,000W for larger appliance needs. There are four ways to recharge the unit’s own battery, with an AC wall outlet taking 1.3 hours to refill its capacity, or you can solar charge in 2 hours with its maximum 1,000W solar input connected. That timeframe can be cut down further to just one hour if you take advantage of its dual AC and solar capabilities, or you can hook it up to your car when you’re in a bind to fill it by the other means.

***Note: The additional 10% in savings has not been factored into the prices below, as the discount takes the percentage off your cart’s entire order – don’t forget to use the code AF2025 for the best prices!

ALLPOWERS best-selling New Year sale bundles:

ALLPOWERS best New Year sale power bank/station deals:

ALLPOWERS best New Year sale expansion power deals:

ALLPOWERS best New Year sale solar generator bundles:

ALLPOWERS New Year sale add-on deals:

Camplux electric tankless water heaters

Keep it steamy with Camplux’s 18kW and 27kW electric tankless water heaters at lowest prices from $240

Through its official Amazon storefront, Camplux is offering its 18kW Electric Tankless Water Heater at $239.99 shipped. This unit would normally cost you $350 at full price, with discounts often keeping prices above $280, aside from the one previous drop to the $240 low at the end of summer. Today’s deal is cutting $110 off the going rate, giving you a second chance at the lowest price we have tracked.

Nothing beats a nice hot shower, especially in the middle of winter. Camplux’s 18kW unit not only ensures things stay steamy, but its compact form factor ensures far less space is taken up compared to traditional water heaters. Once installed, according to Camplux, you won’t have to “wait more than 3 seconds to get plenty of hot water,” with the fast-heating low-consumption heating rods boasting “efficiency up to 99.8% and saving 60% water heating costs for your home.” There are plenty of safety protections built right in, like against overheating, anti-dry heating, water-electricity separation, and more. Do keep in mind though that it requires a minimum 0.66GPM water flow to activate, as well as two double-pole 40A breakers, a wire gauge of 2 x 8 AWG, and a 3/4-inch NPT connection.

Of course, depending on your home’s size and the number of people expected to use the shower, or even how many water sources will be supplied from the unit, you may want to consider something bigger. Right now, you can instead grab the Camplux 27kW model down at a new low of $259.99, a drop from its usual $450. Not only does it promise round the clock hot water delivery, but it’s also rated for multiple points of use over small models.

Anker SOLIX C200 DC power bank station

Anker’s new SOLIX C200 DC 60,000mAh power bank station falls to $100 low

Anker’s official Amazon storefront is offering a return to the best rate on its latest SOLIX C200 DC 60,000mAh Power Bank Station going for $99.99 shipped. Normally this newer model would run you $170 at its full rate, which has seen a few discounts since releasing a few months ago, the biggest of which saw a drop to the $100 low with Cyber Monday savings. With this deal coming in today, you’re getting another shot at its Cyber Monday pricing, saving you $70 as it returns to the lowest price we have tracked. It even beats out Anker’s direct website right now, where it is priced at $110.

Anker’s SOLIX C200 DC power bank station is a smaller and more compact version of the brand’s new C300 DC and AC models, coming in with a slightly smaller 60,000mAh/192Wh LiFePO4 capacity. It delivers up to 300W of output power to your devices through its five port options (two USB-As, one 140W USB-C, one 15W USB-C, one car port). You can refill the units own battery via three ways, with its 140W USB-C port giving you an 80% charge in 1.3 hours through a wall outlet, or you can utilize up to 100W of solar input or the car port for 80% in 1.6 hours.

You’ll also find the larger 90,000mAh C300 DC and C300 AC models matching their direct Anker discounts at Amazon for $180 and $200 at the moment. Not only are you getting the expanded 90,000mAh LiFePO4 capacity here, but they also come sporting different variations of built-in lights for camping trips. You can get the full rundown on its other capabilities in our launch coverage here.

Best New Year e-bike deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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