Testing private equity cryptocurrencies imposes higher costs on the general public.
The revitalized fossil fuel power plant of a Bitcoin mining private equity firm is back up and running. This free marketing experiment, which is not limited to polluting the atmosphere in pursuit of volatile cryptocurrency, has also poured tens of millions of gallons of hot water into the Seneca Glacier in southern New York. p>
READ MORE PRIVATE - Equity Corporation is reviving zombie fossil fuel power plants to extract the heat of Bitcoin themselves, and they weren't interested, but at least they deliver the electricity generated from the power plant to their homes. Today, if a small part does it, they are in luck. Most often, turbines burn natural gas, which is done solely for the benefit of the private Atlas holding company by mining bitcoins. Atlas, the company that acquired Greenidge, has ramped up bitcoin mining efforts since February 2021, adding thousands of mining rigs that have produced more than 1,100 bitcoins over the past year and a half. The company plans to install thousands more platforms, using 85 MW of the plant's total capacity of 108 MW.
Seneca Lake water is not the only thing the station heats. In December 2020, with the plant producing only 13% of its capacity, the Bitcoin Atlas process there produced 243,103 tons of carbon dioxide and equivalent greenhouse gases, a tenfold increase from January 2020 when mining began. And NOx pollution, which is responsible for everything from asthma, lung cancer and premature death, has increased tenfold. Advertisement The plant is currently allowed to emit 641,000 tons of carbon dioxide equivalent per year, although it could maximize it if Atlas wanted it. The return on investment and the use of all the power of the 106 MW power plant, the carbon pollution can reach 1.06 million tons per year. NOx emissions - and health impacts - are expected to increase as well. The only tangible benefit of this project (aside from the dividends in investors' pockets) are the job claims for 31 companies. The sparkling specimen of the 12,000-year-old Seneca Lake is a remarkable specimen. Finger Lakes District. It still contains the highest quality, perfectly clean water to drink with only limited processing. Its waters account for a large lake trout population and are large enough to sustain the National Trout Lake Derby for 57 years. Precious fish spawn in the rivers that feed the lake, and one of these rivers - the Kioka Lake outlet, known to locals for fishing for rainbow trout - is slowly draining hot water.
Rainbow trout are extremely sensitive to water temperature fluctuations, and the fish are happiest in the mid-1950s. Because cold water contains more oxygen, fish are stressed as the temperature rises. Above 70 degrees Fahrenheit, rainbow trout does not grow, and people under stress begin to die. Experienced anglers never get tired of fishing when the water reaches that point. The Grange is allowed to drop the water to a maximum temperature of 108 degrees Fahrenheit in the summer and 86 degrees Fahrenheit in the winter. . The New York Department of Environmental Protection reports that over the past four years, the plant's average maximum daily discharge temperature has been 98 degrees in the summer and 70 degrees in the winter. Eventually, the water makes its way into Seneca Lake, where it can cause tropical surface temperatures to rise and harmful algal blooms to thrive. Advertising
Return on Profit
Atlas, a private company, bought the Greenedge Power Plant in 2014 and converted it from coal to natural gas. The company originally intended to be a bodybuilding plant that would sell electricity to the grid if demand increased.
But in the three years that Atlas spent rebuilding the factory, the world has changed. Natural gas, once considered a bridge fuel, is increasingly known as a dead end. Renewable sources like wind and solar continue to fall in prices, so that by 2019, the economics of power plants like Greenage means that 60% of them will not operate for more than six hours in a row. Today, battery-powered renewable energy sources are cheaper than greenhouse gases, and even batteries alone threaten fossil organisms.
Read more Want to offset your carbon footprint? This is something you should know that although Atlas has spent $60 million to modernize its old coal-fired power plant, it has not used a combined cycle of more advanced technology, which has helped it operate as a profitable economic company. The CEO of Greenidge told NBC that in search of higher returns, the company was able to mine bitcoins. After a small test of the profitability of the extraction, the company invested large sums in the project. By the end of the year, Greenedge and Atlas plan to have 18,000 on-site mining rigs, with another 10,500 on the horizon. When Atlas' plans for Greenedge are completed, mining rigs will consume 79% of the plant's estimated capacity.
Of course, Atlas will not stop here. Through Greenidge Generation Holdings, the company is renting a building from a bankrupt book and magazine printer and turning it into a data center to mine cryptocurrency. Unlike the original Grange, the project has no internal power, and Atlas claims it uses two-thirds of its "zero carbon" energy from nuclear-like sources. else? Fossil, most likely, says Atlas is making up for these versions of the Spartanburg and New York operations. But the company did not say how many compensation programs do not reduce emissions. There is no compensation for that. p>
Bitcoin factory turns 12,000-year-old glacial lake into a spa
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