New Hampshire Rejects $100 Million State Bitcoin Bond Project

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On July 10, 2026, New Hampshire’s Executive Council rejected a $100 million Bitcoin-backed bond, voting 3 to 2 against the proposal. The state-backed initiative, the first of its kind, was supported by CleanSpark and carried a Ba2 rating from Moody’s. State House Majority Leader Keith Ammon criticized the decision as short-sighted. The vote occurs amid ongoing speculation surrounding the approval of a Bitcoin ETF and the potential launch of a spot Bitcoin ETF. New Hampshire had previously been a leader in crypto policy, including establishing a state crypto reserve.

BlockBeats report: On July 10, the New Hampshire Executive Council voted 3 to 2 to reject a $100 million state-backed Bitcoin bond initiative, ending the first-ever state-sponsored Bitcoin-backed bond effort. The bond, issued by the New Hampshire Business Finance Authority, was backed by Bitcoin mining company and data center operator CleanSpark, which had received a Ba2 rating from Moody’s several months earlier.

State House Majority Leader Keith Ammon called it "an extremely short-sighted decision," stating that members of the state executive council, facing an election year, could reverse the outcome with just one vote: "We won't give up." New Hampshire established the first state cryptocurrency reserve last year, outpacing ongoing federal efforts.

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