Locals living near a Bitcoin mining facility on the shores of Seneca Lake have reported alarming rises in water temperatures, NBC News reported today.
Protest against Greenidge
Abi Buddington, a resident who lives close to the lake, said the following:
“The lake is so warm it feels like you’re in a hot tub.”
Last month, locals staged a protest against the Greenidge Generation Bitcoin mining industry. According to them, it pollutes the air and heats the lake water. This is due to the use of fossil fuels. Greenidge is owned by private equity firm Atlas Holdings. Greenidge told NBC that the lake facility is operating within federal and state environmental permits. Jeff Kirt, the CEO of Greenidge, said the following:
“The environmental impact of the factory has never been better than it is today.”
The company also indicated that it is compensating for its CO2 emissions and has pledged to move away from natural gas.
Mining at the lake
The water from the lake cools the 8,000 computers used to mine Bitcoins at the gas-fired plant in New York’s rural Finger Lakes region.
According to documents obtained by NBC, Greenidge’s current license allows it to take in 631 million gallons of water and discharge 632 million gallons daily. This at temperatures up to 41 degrees in the summer and 30 degrees in the winter. The permit must be renewed in September. The broadcaster also reports that not all local residents are against Greenidge. The company has made substantial donations to local schools and a fire service, and has also created employment.
How it started How it’s going pic.twitter.com/cE7lxqJE7Z
— Greenidge Generation (@GreenidgeLLC) October 14, 2020
Bitcoin mining expands in the US
In the United States, Bitcoin mining has increased significantly in response to a crackdown in China. As a result, it has grown to nearly 8% of the total global share, compared to 4% in September 2019.
Greenidge owner Atlas recently raised $3 billion from investors and said it plans to more than quadruple its current Bitcoin mining capacity by the end of the year. On Friday, the company announced that it would expand its operations to South Carolina as early as this year. Greenidge is planning a carbon neutral crypto mining facility in the city of Spartanburg. It has now signed a letter of intent with LSC Communications, another Atlas Holdings portfolio company.
New York campaigners are concerned about the company’s expansion and warn that if New York regulators don’t rein in Bitcoin’s mining activity. At least 30 additional power plants could be used, which would jeopardize the state’s green energy goals. A three-year ban on Bitcoin mining has been proposed.
–
