Categories: Bitcoin Latest News

Bitcoin Miner Greenidge’s NY Power Plant Permit Delayed: Report

The New York State Department of Environmental Conservation (NYSDEC) has delayed its decision whether it will allow Greenidge Generation to continue to use its power plant in the town of Dresden for bitcoin mining, Bloomberg reported.

The decision is now expected to come by March 31, two months later than originally planned, the report said.The delay will help NYSDEC complete its review with public comments, Bloomberg said, citing a spokesperson.The miner applied last year to renew its permits for the plant, the first time it has come up for renewal since the plant has been powering bitcoin mining operations.On Jan. 16, Greenidge said that due to high electricity demand resulting from recent cold weather, the company temporarily curtailed its cryptocurrency mining operations in Dresden on Jan. 15 to supply all its electrical generation capacity to the New York Independent System Operator.On Dec. 2, U.S. Sen. Elizabeth Warren (D-Mass.) questioned the environmental footprint of Greenidge Generation’s (GREE) bitcoin mining operation in New York in a detailed letter. The senator later targeted six more crypto miners, questioning their energy usage.

Read more: Warren Targets 6 More Crypto Miners for Their Energy Use

Read MoreFeedzy

The New York State Department of Environmental Conservation (NYSDEC) has delayed its decision whether it will allow Greenidge Generation to continue to use its power plant in the town of Dresden for bitcoin mining, Bloomberg reported.

The decision is now expected to come by March 31, two months later than originally planned, the report said.

The delay will help NYSDEC complete its review with public comments, Bloomberg said, citing a spokesperson.

The miner applied last year to renew its permits for the plant, the first time it has come up for renewal since the plant has been powering bitcoin mining operations.

On Jan. 16, Greenidge said that due to high electricity demand resulting from recent cold weather, the company temporarily curtailed its cryptocurrency mining operations in Dresden on Jan. 15 to supply all its electrical generation capacity to the New York Independent System Operator.

On Dec. 2, U.S. Sen. Elizabeth Warren (D-Mass.) questioned the environmental footprint of Greenidge Generation’s (GREE) bitcoin mining operation in New York in a detailed letter. The senator later targeted six more crypto miners, questioning their energy usage.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Jan 31, 2022
2
Jan 31, 2022
3
Jan 31, 2022
4
Jan 31, 2022

Recent Posts

BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Conspiracy Charge

Alexander Vinnick, the Russian national who was one of BTC-e's operators, pled guilty to conspiracy…

2 hours ago

Bitcoin Price Surges Towards $61,000, Eyeing Potential Breakout To $67-$68k Range

Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a notable resurgence in its…

2 hours ago

Crypto Expert Turns Bullish On Bitcoin, Predicts Quantitative Easing Will Begin Soon

Crypto expert Michaël van de Poppe has made a bullish case for Bitcoin as he…

3 hours ago

6 Reasons To Own Bitcoin In Retirement

Originally published on Unchained.com. Unchained is the official US Collaborative Custody partner of Bitcoin Magazine…

3 hours ago

Bitcoin Bottom In? Retracement From $73,800 Is Deeper And Took Longer To Form

Some analysts were frightened by the recent drop in Bitcoin prices. Though the coin is…

4 hours ago

Crypto Pundit Lists 4 Altcoins To Buy Once The Bitcoin Price Bottoms

Crypto analyst DonAlt has listed four altcoins he will buy once he believes that Bitcoin’s…

6 hours ago