STATEMENT TO

SENATE, No. 4143

with Senate Floor Amendments

(Proposed by Senator SMITH)

ADOPTED: JUNE 2, 2025

      The floor amendments to the bill would:

      (1) add information related to cryptocurrency mining facilities within the bill’s legislative findings and declarations;

      (2) add definitions for the terms “blockchain technology,” “consensus protocol,” “cryptocurrency,” “cryptocurrency mining,” and “cryptocurrency mining facility”;

      (3) provide that the bill’s provisions would apply to cryptocurrency mining facilities, in addition to AI data centers;

      (4) clarify, within the definitions of “AI data center” and “cryptocurrency mining facility” that the bill’s provisions would only apply to AI data centers and cryptocurrency mining facilities that are not yet operational as of the Board of Public Utilities’ finding that a majority of states in the PJM region have adopted the same energy supply requirements as those in the bill;

      (5) clarify that the bill’s provisions would require all electricity supplied, as measured on an hourly basis, to an AI data center or a cryptocurrency mining facility within the State to be derived from new verifiable Class I renewable energy, energy from newly constructed nuclear power plants, or a combination thereof, such that there is no net decrease of verifiable Class I renewable energy and energy from nuclear power plants supplied, as measured on an hourly basis, to the transmission and distribution system; and

      (6) make certain technical changes to the bill.