In accordance with the mining agency, it goals to create high-tech jobs for residents and assist native companies with the photo voltaic farm.
Bitcoin mining firm Greenidge Technology is planning to extend the variety of renewable vitality sources obtainable to be used in New York.
In a Thursday announcement, Greenidge mentioned it could be utilizing the earnings from its Bitcoin (BTC) miners within the Finger Lakes area of New York state to expedite the closure of a close-by coal ash landfill. The corporate plans to rework the Lockwood Hills web site right into a photo voltaic farm able to producing 5 megawatts of energy.
Greenidge CEO Jeff Kirt mentioned the venture was “making extra renewable vitality a actuality by leveraging Bitcoin mining earnings to fund the creation of a brand new photo voltaic farm at a landfill web site.” In accordance with the agency, it goals to create high-tech jobs for residents and assist native companies with the photo voltaic farm.
The brand new vitality supply might additionally seemingly be used to enhance the ability of the corporate’s Bitcoin plant operations on Seneca Lake, which goals to dedicate 85 MW to crypto mining by subsequent yr. The plant had beforehand been powered by coal however now reportedly makes use of pure gasoline.
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The mining agency mentioned it operates “100% carbon-neutral” BTC mining amenities, with plans to increase to South Carolina as early as this yr. Greenidge goals to realize an operational capability of at the very least 500 MW throughout a number of areas by 2025.
Nevertheless, critics of Greenidge — together with the environmental group Seneca Lake Guardian — have claimed that the mining agency’s operations usually are not as environmentally pleasant as they seem, saying the corporate is counting on pure gasoline produced from fracking. Native residents have additionally accused Greenidge of being liable for rising temperatures in Seneca Lake by claiming it discharged overheated water.