Yesterday, two members of the New York State (NYS) Senate introduced Senate Bill 8518 (S8518), which imposes excise taxes on digital asset mining using the proof-of-work consensus mechanism, making it even more difficult than it already is for bitcoin miners to operate in the state.

NEW: New York introduces anti-bitcoin mining bill

S8518 would impose an excise tax on proof-of-work mining, to fund low income utilities affordability programs. pic.twitter.com/Yw5TguNkGv

— Bitcoin Laws (@Bitcoin_Laws) October 2, 2025

S8518, which was co-sponsored by Liz Krueger (D) and Andrew Gounardes (D), stipulates that bitcoin and digital asset miners in the state will pay increased taxes…

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