Cryptocurrencies

In the state of New York, associations oppose the development of a Bitcoin (BTC) mine – Cryptocurrencies

opponents bitcoin mining New York

Wasn’t Satoshi Nakamoto a green man? A somewhat “blunt” question that might shock some bitcoiners, but it nonetheless describes one of the main issues that could compromise the growth of Bitcoin (BTC). BTC mining does not get a good press because of the energy-intensive machines used which have a significant negative impact on the environment. New York State will face possible legal action for allowing plans to expand a BTC mining company.

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Plaintiffs break down Bitcoin mine

Many organizations, including Sierra Club, Seneca Lake Guardian, and local residents, filed a petition with the Supreme Court of the State of New York indicating that the local government had violated state laws by approving plans to expand a mining facility in Bitcoin.

SIerra club complaint New York City Bitcoin BTC mining

According to the information contained in the documents filed on December 17, 2020, Greenidge Generation allegedly bypassed the environmental impact statement procedure, requesting approval through 2 separate but interrelated applications.

The residents who joined the complaint cite the noise annoyance associated with the installation and the possible contamination of the Finger lakes that would negatively impact wildlife and recreational activities.

The environment: Bitcoin’s weak point

The power station of Greenidge uses a pipeline to bring natural gas to the plant to generate the energy necessary for the operation of the mining center of Bitcoin while reducing costs.

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The society Atlas Holding who owns the plant, is said to have installed 7,000 machines in 2019.

The local daily Fingerlakes1 reports that the facility is not operating regularly and well below its production capacity.

Greenidge would then have applied for an extension to authorize the construction and operation of 4 new buildings which would have allowed the plant to operate at full capacity, full time.

At a city council meeting in October 2020, the company said the mining facility would operate within environmental standards set by the state and federal government.

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The increase in mining difficulty is certainly “healthy” for network security and for the price of Bitcoin, but it forces miners to continuously increase their hash power and therefore to use ever more energy-consuming machines. Will we one day mine the last Bitcoin, given all the technical and legal obstacles for minors?

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