DEC rejects air permit for cryptocurrency mining facility on Seneca Lake

TOMPKINS COUNTY, NY—The New York State Department of Environmental Conservation has issued its long-awaited decision on the renewal of air permits at the Greenidge Generation powerplant and cryptocurrency mining facility in Yates County, ruling that the permits would not be renewed on the grounds of environmental harm through rising greenhouse gas emissions.

In a major win for statewide environmental advocates who had argued that the proof-of-work cryptocurrency mining at the location was too environmentally harmfulthe DEC cited the state’s goals to combat climate change as one of the primary factors to withhold the renewal.

Bitcoin, which has the highest market cap of any cryptocurrency, is also the most recognizable example of one that utilizes proof-of-work authentication, a particularly energy-hungry method of compared to other ledger used to verify the transactions of cryptocurrencies.

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