The cryptocurrency miners in the state of New York are allowed to mine crypto, as long as the electricity they are using is "green". This isn't fair, because many industries aren't required by the law to use green energy.
It may not be fair, but I continue to think it's a great chance for the mining industry to reinvent itself to the point the whole CO2 argument becomes obsolete.
The problem is the mindset that Bitcoin is something "useless" which is only "used for speculation" by "greedy" hodlers. This mindset is of course unfair. But a significant part of the population thinks that. (In reality, it's more the shitcoin* community - see the "lunatics"
led by Do Kwon, only to illustrate the weirdness of a "decentralized" business with "godlike leaders" - which is leading to that mindset.)
But once miners demonstrate that they can do their business with green energy (like a lot of NY miners are already doing - those using hydropower 100% should already be compliant with the new law!), this mindset will hopefully begin to erode. On the other hand, if significant parts of the Bitcoin community stay stubborn about their desire to use the cheapest, dirtiest energy for mining, it will take longer.
I don't think this is just a matter of reallocating your mining company and setting up shop in a different state. If it comes to the point where the state of New York bans the mining of Bitcoin, I am afraid it will create a chain reaction where other states will follow.
First, again, it isn't an outright ban. It's a ban on mining with fossil fuel-based energy. I think to have read it only applies to industrial-scale mining, but I may be wrong with that.
The "chain reaction" phenomenon however may become true indeed, but again, I think this is not a bad thing. If increasingly more US states (and later, other countries) restrict fossil fuel-based mining then the cost for miners to be compliant - using "green" energy - will be lower compared to the cost and risk to try to find a state to relocate to, where they could be sure to not be banned to use fossil fuels for a long time.
Even Russia, which has currently no shortage of fossil fuels, is considering restrictions for miners. So the current "find the cheapest energy, even if it's the dirtiest" business model will come to an end.
*as "shitcoin" I don't classify all altcoins, but those that are not solving real problems, are centralized and characterized by this toxic "pump and dump" mentality