Home News New York businesses ask governor to deny permits for crypto mining

New York businesses ask governor to deny permits for crypto mining


A coalition of local companies has petitioned New York State Governor Kathy Hochul to refuse licences for the conversion of the city’s ageing fossil-fuel power facilities into crypto mining centres. The request is made in the form of a letter. Which signed by representatives from a variety of organisations, corporations, and labour unions.

Moreover, the letter requests an environmental review for Proof-of-Work cryptocurrency mining in New York State. As well as a denial of permits to convert the Greenidge Generating Station and the Fortistar North Tonawanda power plants into crypto mining facilities by Governor Andrew M. Cuomo.

“Proof-of-Work cryptocurrency mining consumes a tremendous amount of energy to run the computers required to conduct business. If this activity expands in New York, it may seriously jeopardise the state’s climate goals. Which set out in the Climate Leadership and Community Protection Act.”

“Significantly jeopardise the state’s progress”

Repowering decommissioned fossil-fueled power stations would “significantly jeopardise the state’s progress on. As well, satisfying obligations for lowering greenhouse gas (GHG) emissions”, according to the proposal.

Furthermore, Greenidge has not proven compliance with New York’s climate law, according to NYS Commissioner Basil Seggos of the Department of Environmental Conservation, according to the companies.

Additionally, the letter requests that Hochul’s office refuse the Title V Air Permits for the two fossil-fuel plants. Citing the necessity for a comprehensive environmental study on greenhouse gas emissions.

Comparatively, on the opposite side of the planet, Russian officials are preparing to impose special power prices on Chinese cryptocurrency miners who have just been relocated.

In fact, Russian Energy Minister Nikolai Shulginov proposed a new energy consumption framework on Oct. 13 that would divide prices between general use and bitcoin mining. He said:

“We can’t allow miners to profit from the situation by exploiting cheap residential power rates.”

Bitcoin’s energy usage will stay below 0.5% of the world total for the next decade, according to study from the New York Digital Investment Group (NYDIG). The study also predicts that price volatility, mining difficulty, and energy usage would affect Bitcoin’s carbon footprint.

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