SDIG, a cryptocurrency mining firm based in Pennsylvania, is converting trash from ageing power plants into energy to fuel hundreds of Bitcoin mining machines.
The company collects coal refuse, a byproduct of the coal mining process, and burns it at its energy generation facilities in an emissions-controlled environment, according to the company.
Coal refuse can contribute to a variety of environmental issues, including water and air pollution, as well as acid mine drainage, which is acidic water produced by coal mining activities. Collecting and safely It is possible to dispose of this waste while also producing electricity for crypto mining.
Pennsylvania is the country’s third-largest coal producer. With 881 pounds of waste per 2,200 pounds produced, or 400 kilos per tonne, according to estimates. Pennsylvania alone contains nearly 220 million tonnes of hazardous waste, according to Stronghold.
Bitcoin and other proof-of-work cryptocurrencies have recently attracted the attention of regulators. Since they rely on energy-intensive procedures to mine and provide network validation.
The New York State Assembly advanced a measure earlier this month to suspend proof-of-work mining that employs fossil fuels. Citing the method’ negative environmental impact. If passed, proof-of-work mining in New York would possibily prohibited for up to three years.
Other programmes have looked into ways to make Bitcoin mining less harmful to the environment. ConocoPhillips, an oil drilling business based in North Dakota, launched a programme earlier this month. In order to sell natural gas byproducts to Bitcoin miners rather than burning them.
Argo Blockchain, a cryptocurrency mining company situated in the UK, announced in August that its operations have become “climate positive” in terms of carbon emissions. It plans to run its proposed 200 MW mining complex in Texas on renewable energy as well.