An obstacle to large-scale bitcoin mining is finding enough cheap energy to run the huge, power-gobbling computer arrays that create and transact cryptocurrency. One mining operation in central New York came up with a novel solution that has alarmed environmentalists. It uses its own power plant.
Greenidge Generation runs a once-mothballed plant near the shore of Seneca Lake in the Finger Lakes region to produce about 44 megawatts to run 15,300 computer servers, plus additional electricity it sends into the state’s power grid. The megawatts dedicated to Bitcoin might be enough electricity to power more than 35,000 homes.
Proponents call it a competitive way to mine increasingly popular cryptocurrencies, without putting a drain on the existing power grid.
