The bill amends the Arkansas Data Centers Act of 2023 to introduce specific requirements for noise reduction in digital asset mining operations, clarify the rights of Arkansas residents to engage in home digital asset mining, and prohibit foreign-party-controlled ownership of digital asset mining businesses in the state. Key provisions include the requirement for digital asset mining businesses to implement noise-reduction techniques, such as using liquid cooling systems and fully enclosing equipment to minimize noise emissions. Additionally, local governments are restricted from enacting ordinances that would prohibit home digital asset mining or require approval for such activities.

Furthermore, the bill establishes a framework for addressing violations related to foreign ownership of digital asset mining businesses, including penalties and the requirement for divestment within a specified timeframe. The Attorney General is granted authority to investigate potential violations and enforce compliance, with civil penalties for non-compliance. The bill also includes an emergency clause, emphasizing the urgent need for regulation due to the rapid growth of digital asset mining and its potential impact on local communities and security.

Statutes affected:
Old version SB78 V2 - 5-1-2024 09:44 AM: 14-1-603(10), 14-1-604(a), 14-1-604(b), 14-1-604, 14-1-605(a)
SB 78: 14-1-603(10), 14-1-604(a), 14-1-604(b), 14-1-604, 14-1-605(a)
Act 173: 14-1-603(10), 14-1-604(a), 14-1-604(b), 14-1-604, 14-1-605(a)
Old version SB78 V2 - 4-23-2024 01:29 PM: 14-1-603(10), 14-1-604(a), 14-1-604(b), 14-1-604, 14-1-605(a)