[New York State Proposes Electricity Consumption Tax on Proof-of-Work Mining Companies] Last Friday, New York State Democratic Assemblymember Anna Kelles introduced Bill A9138 in the State Assembly and submitted it to the Ways and Means Committee for review. The bill aims to impose a consumption tax on the electricity used by cryptocurrency mining companies employing the Proof-of-Work (PoW) mechanism, complementing Bill S8518 proposed by Senator Liz Krueger. The two bills require crypto mining companies to pay fees to New York State's Energy Affordability Program based on electricity consumption, with specific tax rates applied in tiers. Consumption up to 2.25 million kilowatt-hours will be tax-exempt, while usage exceeding this threshold will be taxed at rates ranging from 2 to 5 cents per kilowatt-hour. Bill A9138 also stipulates that mining facilities powered entirely by renewable energy and operating off-grid will be exempt from the tax to promote sustainable development. If passed, the tax will take effect on January 1, 2027. Both bills are currently under committee review.