Dead and off the grid for years before purchase to mine bitcoin
Few bitcoin projects illustrate the cryptocurrency’s enormous climate impact better than the Greenidge power plant in upstate New York. The once-abandoned power plant was bought by private equity firm Atlas Holdings and retasked. A significant portion of Greenidge’s electricity no longer powers nearby homes or businesses; rather, the plant’s smokestacks are increasingly pouring pollutants into the atmosphere in the service of mining bitcoin.
…By the end of this year, it plans to have 18,000 specialized machines mining bitcoin, and with the recent approval of its data center expansion plans, it will add 10,500 more. When the project is complete, the miners will be using 79 percent of the power plant’s capacity, or 85 MW.
The additional four data center buildings would provide 12 long-term jobs, but the mining operations would significantly contribute to air pollution in the area and discharge hot water into a nearby trout stream that empties into Seneca Lake.
But…it will be turning a profit and in the GOUSA, that’s all that counts.