State commission takes comments on rules for cryptocurrency mining

State regulators are accepting public comment for another week on rules that would put guardrails around Arkansas’ growing cryptocurrency mining industry.

Arkansas Oil and Gas Commissionwhich has been tasked by state lawmakers with regulating the state’s digital asset mining industry, is considering rules that would require facilities to obtain a state permit, provide notice to local governments and nearby property owners and prove they are not subject to foreign control.

Proposed rules It also dictates that utilities must operate in a way that does not “cause a strain on the electric utility’s generating capabilities or the transmission network.”

Cryptocurrency mines use computers to look up numbers associated with a digital currency in a process that requires a lot of electricity and can overburden electrical systems.

The rules also address noise created by facilities, requiring them to use certain noise containment systems or enclosures or to be located at least 2,000 feet from the nearest residential or commercial building.

The committee held a public hearing On the rules on Monday. The public can continue to provide comments to Shannon Raglin By email at shannon.raglin@aogc.state.ar.us Until 11:59 p.m. Monday. January 13. Comments must include the commenter’s name, postal address, and email address.