New York businesses ask governor to deny permits for crypto mining


The New York State Governor Kathy Hochul has been asked by a group of local businesses to deny permits for converting the city’s old fossil-fuel power plants into crypto mining centers. The request comes in the form of a letter cosigned by a number of organizations, businesses and labor groups.

The letter calls for an environmental assessment for Proof-of-Work cryptocurrency mining in NYS while urging Governor Hochul to deny permits to convert the Greenidge Generating Station and the Fortistar North Tonawanda power plants into crypto mining facilities:

“Proof-of-Work cryptocurrency mining use enormous amounts of energy to power the computers needed to conduct business – should this activity expand in New York, it could drastically undermine New York’s climate goals established under the Climate Leadership and Community Protection Act.”

The proposal highlighted the inefficiencies of PoW authentication and suggests that repowering defunct fossil-fueled power plants would be “seriously jeopardizing the state’s progress on and meeting mandates for reducing greenhouse gas (GHG) emissions.”

The businesses also quoted NYS Commissioner Basil Seggos of the Department of Environmental Conservation saying that “Greenidge has not shown compliance with New York’s climate law.”