Finding enough inexpensive electricity to run the massive, power-hungry computer arrays that create and transmit Bitcoin is a challenge for large-scale bitcoin mining. Environmentalists have expressed concern about an innovative solution devised by a mining company in central New York. It generates its own electricity.
Greenidge Generation uses a decommissioned facility near the shore of Seneca Lake in the Finger Lakes region to generate around 44 megawatts of electricity, enough to operate 15,300 computer servers and transfer the rest of the electricity into the state’s power grid. More than 35,000 houses may be powered by megawatts dedicated to Bitcoin.
Its proponents describe it as a cost-effective means to mine more popular cryptocurrencies without straining the existing power system.
The factory is seen as a menace to the environment by environmentalists.
They are concerned about a new wave of resurrected fossil-fuel plants blasting out climate gases for private profit rather than the common benefit. They’re asking the state to deny the plant’s air quality permit renewal and put a stop to comparable developments, citing Greenidge as a test case.
“The current status of our environment necessitates action on cryptocurrency mining,” said Earthjustice’s Liz Moran. “We are risking the state’s ability to accomplish its climate targets, and as a result, we are setting the tone for the rest of the country.”
