Business

Bitcoin Mining Power Plants Cause Environmentalist Anger | National News

The former coal-fired power plant, located in a tourist area known for its glacial lakes and Riesling wine, was converted to natural gas by Greenwich and began generating electricity in 2017. Bitcoin mining at this power plant, which has a capacity of 106 MW, has begun in earnest. Year. The company said it “brings a part of the world’s digital future” to northern New York.

“For decades, the region has been said to see new industries and opportunities,” Greenwich said in a prepared statement. “We’re actually doing that, and we’re doing it entirely within the state’s nationally leading high environmental standards.”

Bitcoin Miner unlocks Bitcoin by solving complex and unique puzzles. As the value of Bitcoin increases, puzzles become more difficult and require more computer power to solve them. Estimates of the amount of energy used by Bitcoin vary.

Greenidge said it had mined 729 Bitcoins in the three months leading up to September 30th. The value of cryptocurrencies fluctuated, and on Friday, 1 Bitcoin was worth more than $ 59,000.

Opponents are dissatisfied with Greenwich’s application to run the power plant, but are now operating a mine that consumes more electricity from the power plant.

Note that when the plant came back online, Greenidge said mining wasn’t part of the plan and continued to power the grid. Greenidge said it used 58% of its electricity for mining from January to June.

Bitcoin Mining Power Plants Cause Environmentalist Anger | National News

Source link Bitcoin Mining Power Plants Cause Environmentalist Anger | National News

Back to top button