A cryptocurrency-mining operation in central New York has reopened a shuttered fossil fuel power plant to power 15,300 computer servers used to unlock bitcoins, raising concerns among environmentalists, the Associated Press reports.
Miners access new bitcoins by solving complex math problems, a task that requires the use of energy-intensive computers. To supply the power needed, Greenidge Generation converted a former coal plant on the shore of Seneca Lake to a gas-fired plant in 2017. It started mining at the plant last year, generating 44 megawatts of electricity, largely to supply its operation, with the surplus sold to the grid.
The high value of bitcoins is incentivizing such power use. As of Friday, a single bitcoin was worth more than $59,000. From July through September, Greenidge mined 729 bitcoins, AP reports. Demand for electricity among cryptocurrency miners has alarmed environmentalists, who are asking the state of New York not to renew Greenidge plant’s air quality permit.
“The current state of our climate demands action on cryptocurrency mining,” Liz Moran of Earthjustice told AP. “We are jeopardizing the state’s abilities to meet our climate goals.”
Read more at: Yale Environment 360
Photo Credit: Schaferle via Pixabay