1 Episode results for "Seneca Lake Guardian"
Environmental Concerns Arise Over Energy Needed To Mine Bitcoin
"Making or mining. Bitcoin requires a lot of energy which can mean burning more fossil fuels now at the same time states are making a push for clean energy. So does something here have to give. Here's von golden from member station w. skg in new york's finger lakes about one hundred. People are walking down the shoulder of a highway overlooking seneca lake. They're heading down to the greenwich generation. Power plant the natural gas-fired facility generates some electricity. Oh what's gotten. The attention of. The activists is their generation of bitcoin. They're protesting today. Because greenwich is looking to expand. Its bitcoin mining. That would probably mean burning. More natural gas emitting more greenhouse gases. Yvonne taylor is vice. President of seneca lake guardian and is leading the opposition to greenwich. We simply cannot allow this ludicrous scheme of burning fossil fuels to make fake money in the midst of climate generating or mining. Cryptocurrency is complicated. there's no actual mining the gist. Is that a whole lot of computers. Do a whole lot of calculations to create digital currency that requires a ton of energy which can mean burning more fossil fuels. And that's the case with greenwich. The plant isn't always producing electricity for the grid so a few years ago. They figured out they could make a profit by using excess power to mind bitcoin. Dale irwin manages. The plant came up to that. It was a very good business solution for irwin. Won't say exactly how much more the plant will emit with its expansion. Only that it'll be in compliance with its permits. We follow all laws and regulations in dc. Apply to us over. Reveal will study what they ask. And we'll Do i do. York's environmental regulator says it's closely monitoring greenwich is bitcoin expansion. Researchers at cambridge university estimate that bitcoin mining is actively using over one hundred twenty million megawatt hours of energy every year. That's more electricity than the entire state of virginia consumed in two thousand nineteen when bitcoin miners are buying electricity off. The grid. utilities. Have to be ready to meet more demand ileana bitar professor at cornell university who studies power markets and electrical grids. He says electrical utilities could struggle to meet bitcoins. Increasing demand for power negatively that would drive an increase in supply of generation or electricity from more dispatchable generators like natural gas which produce greenhouse gas emissions says more. Bitcoin mining will likely slow down progress of states trying to lower carbon emissions. There are a few attempts to regulate bitcoins energy. Consumption missoula montana requires all cryptocurrency mining to be offset with renewable energy plans to increase bitcoin. Production capacity at the greenwich plant in new york were approved but a local legislator is now pushing for a statewide moratorium on cryptocurrency mining. It is the first such measure introduced in the us for npr news. I'm vaughn golden in binghamton new york. This message comes from npr sponsor. Ford the all electric mustang mach e and at twelve foot rocket take off the rocket launches up into the atmosphere while the all electric pony takes off toward the horizon at full speed visit for dot com for a new perspective on range.