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The historic power plant decides that mining Bitcoin is more profitable than selling electricity

A hydroelectric power plant built in 1897 now serves a very different function.Albany Times League Report The Mechanicville plant in New York, operated by Albany Engineering Corp., is currently using part of the electricity it produces to mine bitcoin.

“We think this is the oldest renewable energy facility still in operation in the world,” Albany Engineering CEO Jim Besha told the Albany Times Union. He also stated that the factory “can actually make more money with Bitcoin instead of selling electricity to National Grid,” but that’s why he started mining cryptocurrency.

(Image source: TimesUnion.com)

Bitcoin mining is an energy-intensive operation that requires a lot of powerful equipment.criticism Environmental impact of cryptocurrency Lead to a renewed push to use renewable energy to exploit it, such as this hydroelectric power plant in New York or the proposed Volcano Power Mine In El Salvador.

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