According to the New York State Department of Environmental Conservation (NYSDEC) has delayed its decision. Whether it will allow crypto mining firm Greenidge Generation to continue using its power plant in the town of Dresden for bitcoin mining, a recent report from Bloomberg.
The decision by the state’s Department of Environmental Conservation will now come by the end of March.
New York & The Environmental Debate
The report said that the decision may come by March 31. This means two months later than originally planned. The delay will reportedly help NYSDEC complete its review with public comments, citing a spokesperson’s position 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 a detailed letter.
Furthermore, the senator later targeted six more crypto miners. They’ve questioned their energy usage. On January 16, Greenidge said that due to high electricity demand resulting from recent cold weather. The company temporarily curtailed cryptocurrency mining operations in Dresden the day prior.
Moreover, this was done to supply all its electrical generation capacity to the New York Independent System Operator.
Last year, the miner applied to renew its permits for the plant. The first time it’s come up for renewal since it has been powering bitcoin mining operations.
Crypto Mining Plant Delayed?
Crypto mining has had significant pushback from many people and environmentalist groups over the years. New York’s power grid could face challenges in the 2021-2030 period. It includes higher demand spurred by extreme weather and delays in planned projects. The state’s power grid operator said in a public statement earlier this month. Reporters, analysts, and others chimed in on how things are going and the impact on progress for crypto and the environment 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,” stated spokesperson Madia Coleman said in a statement. The state’s climate law mandating steep emissions reduction over the next three decades is the act Coleman references.
In its comprehensive reliability plan (CRP), the New York Independent System Operator (NYISO), also said during normal weather conditions. They’ve also added that their power system will meet all applicable reliability standards during that period. As time moves on, we will learn more about the bill and if it will cause delays or all-out stop fossil fuel crypto mining.
