This Bitcoin Mining Company Is Forced To Pay Fines If The Operations Don't Close

Bitcoin mining in the US. (Photo; Doc. Unsplash)

JAKARTA A Bitcoin mining company in North America, US Bitcoin Corp, was forced to face a difficult choice between stopping its operations or paying a huge fine. The BTC mining company is fined USD 540,000 if it does not stop its operations before the end of January.

This is based on an order from the State Supreme Court Judge, Edward Pace, who stated that the company must stop its operations or face a fine of 10,000 dollars per day. If miners continue to operate until the end of January, the fine will increase to 25,000 dollars per day.

Hakim Pace's order was a follow-up to a temporary detention order issued by Supreme Court Justice Frank Sedita III on December 1.▁bungai Falls City Government,34 County, New York, requested initial orders to force the company's facilities to comply with zoning laws governing the energy-intensive industry.

The▁bungai Falls government has accused the mining facility, which is located on Buffalo Avenue, of violating the law, and has caused "public disturbances."

According to Pace, a fine of 10,000 will be in effect until January 31. John P. Bartolomei, a lawyer for US Bitcoin Corp, added that the fine would increase to US$25,000 per day after the deadline until this case is fully resolved.

Bartolomei protested this decision and said he would appeal the decision to the Appeal Division of the Fourth State Supreme Court. The case is still in progress and will be resolved in the near future.

Launching CryptoPotato, New York State is currently undergoing a change in attitude towards the Bitcoin mining industry. In November, Governor Kathy Hochul signed a moratorium ending the use of fossil fuels to mine Bitcoin in the region. This step was taken to meet the country's economic and climate development goals.

Previously, Eric Adams, Mayor of New York City, had opposed Bitcoin mining. However, he later pledged to urge Hochul Governor to veto a bill banning fossil fuel-based mining activities. This was done out of concern about the future growth of this industry. This shows a change in view of the crypto mining industry in New York.