environmental-groups-urging-hochul-to-prevent-cryptocurrency-mining-in-new-york-–-news10-abc

Environmental groups urging Hochul to prevent cryptocurrency mining in New York – NEWS10 ABC

by: Sara Rizzo

Posted: / Updated:

Bitcoin Continues To See Unprecedented Growth

(Photo by Dan Kitwood/Getty Images)

ALBANY, N.Y. (NEWS10) — Several organizations and groups are calling on Governor Kathy Hochul to prevent cryptocurrency mining in New York. A press conference was held October 13 at the State Capitol to address cryptocurrency mining and the effects it has on the environment.

Groups called on Hochul and the Department of Environmental Conservation (DEC) to issue a statewide moratorium on Proof-of-work cryptocurrency mining until an environmental review is conducted.

Proof-of-work cryptocurrency is a type of cryptocurrency, commonly used in Bitcoin, that is the most energy intensive of the various types of cryptocurrency mining. Reporting has uncovered that, globally, this practice consumes more power than some entire countries. 

The press conference was held the same day as DEC’s hearing on the air quality permit for the Greenidge Generating Station, a current cryptocurrency mining operation. Groups urge for the denial of the permit. 

Speakers said how Greenidge poses a threat to the environment, specifically a threat to the climate and water quality. Speakers said the emissions at the facility is way too high and the energy usage is causing the temperature of Seneca Lake to rise.

“We believe this is the top environmental issue facing our great state,” said Yvonne Taylor, Vice President of Seneca Lake Guardian.

Greenidge released a statement a few hours after the press conference.

“Our critics make a lot of claims of negative impacts that do not hold up after scrutiny. This is New York; we have incredibly tight environmental regulations. Every ecological impact is carefully tracked, measured, and publicly cataloged – yet our critics cannot point to a single piece of data to support their claims of damage to the region,” said Greenidge.

Greenidge said their air permit is in the process of being renewed.

Taylor said a letter is being sent to Hochul with over 600 signatures from environmental organizations, faith-based groups, labor unions and businesses to deny Greenidge the cryptocurrency mining permit.

You can watch the full press conference on Twitter.

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