A natural gas power plant in Dresden, New York revealed on 5 March 2020 that it mines Bitcoins using the excess energy it produces daily.
Greenidge Generation LLC’s Bitcoin mining facility, which houses 7,000 machines that mine bitcoins 24/7, is the result of a $65 million investment for the installation and conversion of the facility from a coal mine.
In partnership with Atlas Holdings, a private equity operation that oversees the bitcoin mining operation, Greenridge mines about 5.5 BTC per day, which is equivalent to about $50,000.
The operation has successfully reduced the natural gas facility’s carbon footprint and produced jobs for the community.
“By partnering with cryptocurrency experts, we’ve created a truly ‘one of a kind’ project and we’re excited to continue to grow.” Greenidge CEO Dale Irwin expressed.