New Hampshire's executive council voted 3-2 to reject a $100 million bond issuance plan backed by bitcoin as collateral. Cointelegraph reported on July 10 local time that the five-member council declined to accept the issuance proposal presented by the New Hampshire Business Finance Authority at a hearing held on Wednesday.

The proposal would have allowed the state to issue $100 million of bitcoin-backed bonds. The BFA approved the investment plan in November 2025, and Governor Kelly Ayotte (켈리 아요트) had supported it. Cleanspark was set to provide bitcoin as collateral under the bond structure.

Karen Liot Hill (카렌 리오트 힐), Dave Wheeler (데이브 휠러) and Janet Stevens (재닛 스티븐스) voted against it. Joseph Kenney (조지프 케니) and John Stephen (존 스티븐) voted in favour. If it had passed, New Hampshire could have further expanded its digital asset policy after enacting a cryptocurrency reserve law in May 2025.

State Representative Keith Ammon (키스 애먼) posted on social media platform X (Twitter) the day after the vote and criticised the decision as shortsighted. He said the council should review the relevant facts and information again and hold a revote at a future meeting.