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HomeBTCNYSDEC postpone judgement on “Greenidge Generation” to allow bitcoin mining

NYSDEC postpone judgement on “Greenidge Generation” to allow bitcoin mining

According to a recent Bloomberg report, the New York State Department of Environmental Conservation (NYSDEC) has postponed its judgement on “Greenidge Generation” to allow bitcoin mining.  The crypto mining company was actually using the Dresden power plant for bitcoin mining. The state’s Department of Environmental Conservation will now announce a decision by the end of March.

According to a spokesperson, the delay in the process will give enough time to the NYSDEC for its evaluation with public consultation. In a detailed letter on December 2, U.S. Sen. Elizabeth Warren (D-Mass.) questioned the environmental footprint of Greenidge Generation’s (GREE) bitcoin mining business in New York.

The senator also mentioned the six additional cryptocurrency miners and questioned their energy usage. Greenidge announced on January 16 that the reason for the high power consumption is the recent cold weather. Now the company has temporarily stopped the bitcoin mining activities in Dresden. This was set up in order to supply the New York Independent System Operator with all of its electricity generation capacity. The Greenidge Generation requested to renew its license for the plant last year, the first time it has been up for renewal since it began powering bitcoin mining operations.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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