New Hampshire rejects $100 million state government bitcoin bond project

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BlockBeats news, July 10 - The New Hampshire Executive Council voted 3-2 to reject a $100 million state government bitcoin bond project, ending what was considered the first bitcoin-backed bond endorsed by a state government. The bond was issued by the New Hampshire Business Finance Authority, backed by bitcoin mining and data center company CleanSpark, and had been assigned a Ba2 rating by Moody's a few months ago.

State House Majority Leader Keith Ammon called it an "extremely shortsighted decision" and noted that Executive Council members are in an election year, with just one vote needed to reverse the outcome—"we are not giving up." New Hampshire was the first state to establish a crypto reserve last year, ahead of the still-unfinished federal efforts.

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