Greenidge Generation Holdings, a controversial Bitcoin mining power company Announce It “is actively exploring to invest part of its mining profits in renewable energy projects in New York”, first by replacing a 40-year-old coal ash landfill with an area of 143 acres with an “important new solar farm” .
Greenidge stated that it has owned the Rockwood Hill Landfill since 2014. Now it will work with the New York State Department of Environmental Protection to “safely cover and close the landfill” to prevent erosion and water seepage in a process that includes “site leveling and installation of permanent engineering membranes”. “
The company said that it will abandon the site’s license and begin accepting bids for solar projects that are expected to produce up to 5 megawatts of electricity.Greenwich Say In March, its natural gas power plant produced 106 MW of electricity, while 19 MW of it was used for its Bitcoin mining business.
Finger Lakes residents Raised concerns Greenidge plans to expand its mining operations in April. The company has previously stated that it plans to increase its factory’s power generation for cryptocurrency mining to 41 MW by the end of the second quarter of 2021, and to 85 MW by the end of the fourth quarter of 21. By 2025, “at least Reach 500 MW”.
These concerns are New York lawmakers respond Launched in May Senate Bill S6486BBefore these mining operations “complete a comprehensive general environmental impact study”, it tried to “suspend” cryptocurrency mining. (The bill is awaiting the New York Assembly.)
Greenidge refuted these criticisms, claiming that its New York factory “is an environmentally sound operating organization that has undergone significant transformation in recent years and has hired dozens of skilled employees to create attractive new blockchain jobs, and Become the backbone of the local economy.”
Now, the company seems to want to have fun in the sun by positioning its Bitcoin mining business as a direct source of funding for New York’s renewable energy projects. Such financial support may make it more difficult for activists and legislators to question the environmental impact of mining.