New Hampshire state lawmakers have stalled a bill aimed at deregulating cryptocurrency mining, sending the proposal for further study amid intense public pressure and a divided legislative committee. The measure, known as House Bill 639 (HB 639), was referred to an “interim study” by the Senate Commerce Committee after a tied vote.
The bill seeks to prevent local governments from imposing restrictions on crypto mining operations, including limits on energy consumption and noise. It also proposes prohibiting unique state or local taxes on digital assets.
Furthermore, HB 639 aims to establish a dedicated “Blockchain docket” within the state’s Superior Court for crypto-related disputes, to be overseen by a governor-appointed judge.
The deferral of the bill followed significant public outcry, with Senator Tara Reardon of Concord noting that the proposal generated “more emails than any other” in her political career. This indicates strong public sentiment surrounding the issue.
Republican Representative Keith Ammon, the bill’s primary sponsor, stated its objective is to provide “legal certainty” and foster innovation in decentralized technologies.
Public opinion in New Hampshire is polarized, with supporters viewing the legislation as an opportunity to attract technological investment and jobs. Critics, however, have raised concerns about the potential environmental and energy impacts of increased cryptocurrency mining.
This legislative pause in New Hampshire contrasts with actions in other U.S. states. In New York, State Senator Liz Krueger introduced a bill in October to impose a tiered electricity tax on crypto miners.
The New York proposal exempts operations consuming up to 2.25 million kilowatt-hours (kWh) annually. It imposes a tax of 2 cents per kWh for those using between 2.26 million and 5 million kWh. New York legislators argue this scheme seeks to balance environmental burdens with economic benefits.
Nationally, the debate over crypto mining’s energy consumption continues. Despite criticisms, recent reports suggest a shift towards cleaner energy sources. A study by the MiCA Crypto Alliance and data firm Nodiens indicated that coal’s share in Bitcoin mining dropped from 63% in 2011 to 20% in 2024, with renewable energy use increasing by an average of 5.8% annually.
New Hampshire has historically adopted a crypto-friendly stance. Earlier this year, state legislative chambers approved a bill to create a state Bitcoin reserve, which will be funded by 10% of public funds.
The future of HB 639, last returned to committee in May for technical adjustments, now hinges on the interim study results and future legislative support. It could potentially reach the full Senate in 2026. If approved, New Hampshire could position itself as one of the most favorable states for crypto mining in the United States.