Cryptocurrencies
N.Y. Bitcoin Mine’s Future Will Have to Wait Until After Governor's Race
- Decision is viewed as bellwether for Bitcoin mining in state
- Politicians, climate advocates bash mining for energy usage
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New York State again delayed its decision on whether to allow operations to continue at a Greenidge Generation Holdings Inc. power plant used for Bitcoin mining until after primary elections in June.
The cryptocurrency industry and environmental advocates have watched closely for the decision on pollution permits for Greenidge’s facility in Dresden, New York, which they see as a sign of whether the state government will allow Bitcoin operations at power plants. Bitcoin, the world’s dominant cryptocurrency, depends on so-called miners using high-powered computers to process transactions and earn rewards in the valuable virtual currency.