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Greenidge Generation, a New York based crypto-mining company, has been granted permission to expand a data center it operates at a fossil-fueled power plant.
The coal-fired Greenidge power plant was shut down in 2009, but it was bought back in 2014, and restarted as a natural gas power station, producing power solely for Greenidge Generation's on-site bitcoin mining data center. Now Greenidge, which describes itself as "the first publicly traded bitcoin miner with its own power station," has been given a permit to expand the data center - but local environmental campaigners say the expansion of crypto mining will do environmental harm, creating greenhouse gases (GHGs) and other emissions for no purpose.
Bitcoin will fry the world
The Greenidge Generation power plant was brought back in 2017, providing power exclusively for cryptocurrency, with mining beginning in 2019. The facility, built with the help of
O'Connell Electric, initially ran 7,000 mining rigs, using 14MW of power. However, there are plans to expand this rapidly using up to 85MW of the total 106MW potential output of the Greenidge plant.
In March, private equity firm Atlas Holdings, which owns Greenidge Generation, announced it would be merged with Nasdaq-listed IT company Support.com, creating a publicly-traded bitcoin company in September when the merger is expected to be completed.