US Bitcoin Corp, a North American Bitcoin mining firm, has been ordered to cease operations by a State Supreme Court Justice, or face penalties of $10,000 per day.
The order is a follow-up to a temporary restraining order issued against the firm on December 1 by Supreme Court Justice Frank Sedita III, who sought to stop the firm from operating as the Falls sought a preliminary injunction to force the company’s facility to comply with zoning laws governing energy-intensive industries.
The city charged the mining facility with violating these laws, and creating “a public nuisance.” The fine will increase to $25,000 per day after January 31 if the company does not shut down.
Despite its historical popularity as a location for Bitcoin mining, regulation against the industry in New York state has been restrictive, with Governor Kathy Hochul signing a moratorium ending the use of fossil fuels to mine Bitcoin in the region in November, to meet the state’s economic development and climate goals.
