The main purpose of the Greenidge gas-fired power plant in the Finger Lakes region is not to provide energy to New Yorkers. It’s to generate bitcoin cryptocurrency, through a process called proof-of-work mining that requires massive computing power.
Now, the plant’s days may be numbered.
This week, state regulators determined the facility runs afoul of the state’s Climate Leadership and Community Protection Act, or CLCPA, which set aggressive targets for reducing carbon emissions.
What You Need To Know
Greenidge’s gas-fired power plant in the Finger Lakes region generates bitcoin, through a process that requires massive computing power
On Thursday state regulators denied Greenidge a permit renewal, saying the project did not align with the state’s carbon emissions targets
Advocates are now pushing Gov. Kathy Hochul to sign a recently passed moratorium on new fossil fuel-powered crypto mining plants
The Greenidge plant will remain open while the company pursues administrative and...
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