Residents in New York have begun to protest what they say is a large bitcoin mining operation that is raising the temperature of Lake Seneca. Seneca Lake is one of the largest lakes in New York state.
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The lake is usually heavily used for boating, fishing, swimming and other recreational activities in the summer. However, residents say a gasoline-fired power plant is polluting the air and heating the lake.
One resident says the lake is so warm it feels like swimming in a hot tub. The massive power plant is not used to provide electricity to local residents. Instead, it is owned by a private equity firm called AtlasHoldings and operated by Greenidge Generation LLC for bitcoin mining. The plant’s electricity output has increased over the past year and a half, with much of the energy generated being used for bitcoin mining.
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Cryptocurrency mining requires computers that consume significant amounts of electricity. The bitcoin mining plant runs 24 hours a day, seven days a week. Residents claim that the plant consumes a staggering amount of power and produces real pollution. Experts from the University of Cambridge say that global bitcoin mining consumes more energy in a year than the entire country of Chile.
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Powering bitcoin mining operations from fossil fuels, such as natural gas, could increase carbon emissions, increase pollution and contribute to global warming. Reports indicate that the Greenidge facility has at least 8,000 computers, and operators plan to install even more.
Adding more computers would mean more energy consumption and pollution. Opponents of bitcoin claim that private equity firms are buying up these factories and reopening them for energy mining.
