Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Greenidge Generation has been in trouble with environmentalists over its use of fossil fuels to power its mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. operation of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in New York’s Seneca Lake.
- NYSDEC denied BTC mining operation application to Greenidge Generation
- Says the company is a polluter
- The company has one month to contest and will do so.
El New York State Department of Environmental Conservation (NYSDEC) denied the application of the mining operation ofBitcoin Greenidge Generation to renew a permit required to continue operating in New York. It did so through a letter dated yesterday.
Regulators said Greenidge’s application was inconsistent with the climate goals set out by the Climate Leadership and Community Protection Act (CLCPA) The state’s greenhouse gas emissions reduction program, which aims to reduce New York’s greenhouse gas emissions by at least 85% by 2050.
The decision comes on the same day that the U.S. Supreme Court ruled against the Environmental Protection Agency (EPA), by ruling that the Clean Air Act, the nation’s most powerful air pollution law, does not give the federal agency authority to regulate greenhouse gas emissions from power plants. The decision limits federal authority to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. climate goals, leaving them in the hands of individual state authorities.
Greenidge and pollution
As he explains Coindesk, Greenidge has come under fire from environmentalists for its use of fossil fuels to power its mining operation of proof of work (PoW ) in Seneca Lake in upstate New York. In his letter rejecting Greenidge, the NYSDEC cited “dramatic” increases in greenhouse gas emissions of the Dresden-based facility since the Climate Act came into force. The plant runs on natural gas, although it was originally a coal-fired facility. before the parent company of Greenidge, Atlas Holdings, to recondition it.
Thus ends the rejection letter of the organism: “The Department denies the Facility’s Application pursuant to 6 NYCRR Section 621.10(a)(2), Greenidge is entitled to request an administrative adjudicatory hearing regarding the denial of this Application. Pursuant to this provision, any request for a hearing must be made in writing within thirty (30) days of the date of this letter.”
Greenidge will contest
In a statement shared with CoinDesk, Greenidge said that the decision did not “ would have no impact on our current operations in Dresden”. . The company said it will continue to operate under its current permit, which is still in effect, “for as long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. as it takes to successfully challenge this arbitrary and capricious decision”.
New York Governor Kathy Hochul tweeted:
“As the Supreme Court pushes back against the federal government in the fight against climate change, New York will continue to lead. I applaud NYSDEC’s decision, which will stop future increases in greenhouse gas a term used on the Ethereum platform that refers to a unit of measuring the computational effort of conducting transactions or smart contracts, or launch DApps in the Ethereum network. It is the “fuel” of the Ethereum network. *see Gas Limit and Gas Price. emissions in Seneca Lake.”
While the Supreme Court sends the federal government backwards in the fight against climate change, New York will continue to lead.
— Governor Kathy Hochul (@GovKathyHochul) June 30, 2022
Hochul has not yet signed the bill passed by New York State Legislature which would impose a two-year moratorium on certain types of cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. operations.
Los defensores de la criptominería esperan que Hochul not to sign the project and opted to sign on to a different bill sponsored by Democratic Assemblyman Clyde Vanel that would create a task force to study the environmental impacts of the cryptocurrency industry in New York.
Trade unions, including the International Brotherhood of Electrical Workers which has members employed at Greenidge’s Dresden facility, have opposed both the proposed mining moratorium and yesterday’s NYSDEC decision.
“It’s a sad day in New York State, when we can throw away good-paying jobs in a high-tech field. “wrote Mike Davis, chapter member IBEW Local 840 in a statement.
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