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Greenidge permit renewal delayed as company debates with regulators

A final decision on the permit renewal for Greenidge’s upstate New York crypto mining facility has been pushed back to June 30. The New York State Department of Environmental Conservation announced on Thursday that it would start reviewing new greenhouse gas (GHG) emission mitigation measures proposed by Greenidge in a letter dated March 25. The agency had previously told Greenidge that additional steps were needed to meet the requirements set by New York’s Climate Leadership and Community Protection Act (CLCPA), …

New York’s revamped crypto mining moratorium is not a ban, but it is moving forward

New York lawmakers have advanced a proposed law that aims to rein in the state’s expanding crypto mining industry. The State Assembly’s Environmental Conservation Committee advanced a proposed moratorium on proof-of-work mining to the Ways and Means Committee on March 22.  The Block previewed the meeting earlier today.  The advancement to a second-tier committee is a big step for legislation in the state assembly. “It is finally moving in both houses. Before the issue was it moved in the Senate …

Congress is preparing an oversight hearing on Bitcoin mining’s environmental impact: sources

A Congressional subcommittee is preparing a hearing to examine the environmental impact of cryptocurrencies, especially bitcoin mining, three sources with knowledge of the matter have told The Block. The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is apparently working on a roster of witnesses to account for the energy use of proof-of-work crypto validation, especially the Bitcoin network.  The timing and the witness list have yet to be determined, but the hearing could take place as …

Senator Elizabeth Warren seeks answers from bitcoin miner Greenidge on its environmental impact

On December 2, Senator Elizabeth Warren wrote to the CEO of Greenidge Generation Holdings, asking about the environmental impact of its bitcoin mining operations in upstate New York and elsewhere. “I seek information on Greenidge’s operations and the resulting impacts on the environment and local communities,” said Warren’s letter, highlighting that the firm is “serving as a model for other companies seeking to acquire aging fossil fuel plants for the purposes of making the energy generation profitable, a trend that …