New York Crypto Mining Plant Permit Delayed

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The New York State Department of Environmental Conservation (NYSDEC) has delayed its choice whether or not it’s going to enable crypto mining agency Greenidge Generation to proceed to make use of its energy plant within the city of Dresden for bitcoin mining, in line with a latest report from Bloomberg.

The choice by the state’s Department of Environmental Conservation will now come by the top of March.

Related Reading | Why Bitcoin Could Hit $90K By The End Of 2022, According To This Prediction

New York & The Environmental Debate

The choice is now anticipated to return by March 31, two months later than initially deliberate, the report mentioned. The delay will reportedly assist NYSDEC full its evaluation with public feedback, citing a spokesperson’s place on the matter. On December 2, U.S. Sen. Elizabeth Warren (D-Mass.) questioned the environmental footprint of Greenidge Generation’s (GREE) bitcoin mining operation in New York in an in depth letter.

The senator later focused six extra crypto miners, questioning their vitality utilization. On January 16, Greenidge mentioned that resulting from excessive electrical energy demand ensuing from latest chilly climate, the corporate briefly curtailed cryptocurrency mining operations in Dresden the day prior. This was executed to provide all its electrical era capability to the New York Independent System Operator. The miner utilized final yr to resume its permits for the plant, the primary time it’s come up for renewal because it has been powering bitcoin mining operations.

BTC: Bitcoin, after hitting all time excessive of 69k in November 2021, has fallen nearly half since, however may very well be again on the street to restoration. |

Could Extreme Weather Cause Further Delays?

Crypto mining has had main pushback from many individuals and environmentalist teams over time. New York’s energy grid may face challenges within the 2021-2030 interval, together with larger demand spurred by excessive climate and delays in deliberate initiatives, the state’s energy grid operator mentioned in a public assertion earlier this month. Reporters, analysts, and others chimed in on how issues are going, and the impression on progress for crypto and the setting it operates in.

“Governor Hochul is taking bold, nation-leading actions to confront climate change head-on, and DEC (the Department of Environmental Conservation) is actively reviewing proposals regarding the role of cryptocurrency mining in New York’s energy landscape, especially in light of the Climate Leadership and Community Protection Act,” said spokesperson Madia Coleman mentioned in a press release. The act Coleman references is the state’s local weather regulation mandating steep emissions discount over the following three a long time.

Policy advocate Liz Moran put in her ideas on the invoice and the way it will impact issues transferring ahead. “A moratorium on fossil fuels is a common sense first step, but we would like to see the state go farther and evaluate the potential environmental harms of the industry as a whole.”

The New York Independent System Operator (NYISO), in its complete reliability plan (CRP), additionally mentioned throughout regular climate circumstances that its energy system is anticipated to fulfill all relevant reliability requirements throughout that interval. As time strikes on, we are going to study extra in regards to the invoice and if it’s going to trigger delays or all out cease fossil gas crypto mining.

Related Reading | Will Crypto Mining Survive Another Government Crackdown?


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