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> This is basically fake news. The plant serves regular customers, and since it costs a lot to fire it up or shut it down, during the period where there is exce
by jakelazaroff 5y ago
> This is basically fake news. The plant serves regular customers, and since it costs a lot to fire it up or shut it down, during the period where there is excess supply of electricity it is used to mine bitcoin.
That’s not true.
The power plant in upstate New York has been offline for almost a decade. It was purchased and reactivated specifically to mine Bitcoin. https://www.nysfocus.com/2021/04/13/new-york-bitcoin-mining-threat/ https://www.nysfocus.com/2021/04/13/new-york-bitcoin-mining-...
The power plant in Montana was due to close in 2018, until they realized they could sell the power to Bitcoin miners. https://www.datacenterdynamics.com/en/news/bitcoin-miner-marathon-signs-coal-fired-electricity-montana/ https://www.datacenterdynamics.com/en/news/bitcoin-miner-mar...
- cyphertruck 5y agoLinking to fake news repeating the same spin is not supporting a fake news article. The plants serve retail customers. The “just to mine bitcoin” is a lie told to try and bash bitcoin. Reality is bitcoin is being mined with stranded natural gas, waste energy etc. Not with expensive high demand electricity— because that electricity is way too expensive.
- jakelazaroff 5y agoHere is a direct quote from the NY plant owner’s SEC filing [1]: > No direct competitor currently owns and operates its own power plant for the purpose of Bitcoin mining. [1] https://corporate.support.com/wp-content/uploads/2021/05/Greenidge-Generation-Holdings-S-4-Registration-Statement.pdf https://corporate.support.com/wp-content/uploads/2021/05/Gre...