Following the announcement from Greenidge Generation Holdings that detailed the company would be promoting a carbon-neutral stance, and the firm’s recent partnership with Foundry, Greenidge revealed on Thursday it is investing profits into a renewable energy investment program. The company is in the midst of expediting the closure of a coal ash landfill in order to construct a new solar farm.
Greenidge Invests in Renewable Energy Investment Program
In 2014, the Lockwood Hills landfill in Dresden, New York was purchased by Lockwood Hills LLC, which is a subsidiary of Greenidge. The site has been “safely maintained” over the last seven years, Greenidge claims, and it ended the use of coal-fired power at the adjacent power facility during that time. The announcement on Thursday says the company plans to safely cap and close down the landfill and Greenidge hopes to install “a solar project across the 143-acre site that will produce up to 5MW of power.”
The bitcoin mining company says that the move is aligned with the firm’s efforts to improve the environment in New York. While it is working on projects like the Lockwood Hills landfill, Greenidge details it is purchasing voluntary carbon offsets from U.S. greenhouse gas reduction projects. Jeff Kirt, CEO of Greenidge, believes bitcoin mining models can advance operations in a way that keeps the environment safe.
“Bitcoin mining at Greenidge is already a model for the industry in that we are advancing this emerging financial platform for people across the world in a manner that fully protects our environment and drives economic growth across Upstate New York,” Kirt said in a statement. The move makes renewable energy a reality by leveraging bitcoin mining profits to fund the creation of a new solar farm at a landfill site, Kirt added.
Greenidge President Says Bitcoin Mining Adds Jobs, Supports Local Community and Can Help the Environment
Greenidge is just one of many crypto mining projects attempting to rejuvenate the environment by transforming business models and removing waste through the process. For instance, Stronghold Digital Mining converts waste coal into alternative energy in order to mine bitcoin and other cryptocurrencies. At the end of May, EZ Blockchain partnered with a Texas-based oil provider to monetize wasted natural gas with bitcoin.
Before Greenidge’s acquisition in 2014, the Lockwood Landfill was permitted to hold coal combustion residuals (CCR) and other wastes. Greenidge details that it will ensure “the site will no longer accept waste of any kind,” add a water filtration system, and a permanent engineered membrane to stop erosion.
“For those of us who grew up and still live right here in the Finger Lakes, the Lockwood Hills landfill has been a constant presence, overlooking Seneca Lake and the Village of Dresden, and something we always hoped would eventually not be needed,” Greenidge president Dale Irwin said in a statement.
Irwin added that he was pleased that bitcoin mining facilities can not only create jobs and support local businesses, but crypto mining operations can also “facilitate the development of renewable energy at this old landfill site.”
What do you think about Greenidge converting the Lockwood Hills landfill in New York? Let us know what you think about this subject in the comments section below.
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Following the announcement from Greenidge Era Holdings that detailed the corporate can be selling a carbon-neutral stance, and the agency’s latest partnership with Foundry, Greenidge revealed on Thursday it’s investing earnings right into a renewable power funding program. The corporate is within the midst of expediting the closure of a coal ash landfill with the intention to assemble a brand new photo voltaic farm.
Greenidge Invests in Renewable Vitality Funding Program
In 2014, the Lockwood Hills landfill in Dresden, New York was bought by Lockwood Hills LLC, which is a subsidiary of Greenidge. The positioning has been “safely maintained” over the past seven years, Greenidge claims, and it ended using coal-fired energy on the adjoining energy facility throughout that point. The announcement on Thursday says the corporate plans to securely cap and shut down the landfill and Greenidge hopes to put in “a photo voltaic undertaking throughout the 143-acre website that may produce as much as 5MW of energy.”
The bitcoin mining firm says that the transfer is aligned with the agency’s efforts to enhance the atmosphere in New York. Whereas it’s engaged on initiatives just like the Lockwood Hills landfill, Greenidge particulars it’s buying voluntary carbon offsets from U.S. greenhouse gasoline discount initiatives. Jeff Kirt, CEO of Greenidge, believes bitcoin mining fashions can advance operations in a means that retains the atmosphere protected.
“Bitcoin mining at Greenidge is already a mannequin for the business in that we’re advancing this rising monetary platform for individuals the world over in a way that absolutely protects our surroundings and drives financial progress throughout Upstate New York,” Kirt stated in an announcement. The transfer makes renewable power a actuality by leveraging bitcoin mining earnings to fund the creation of a brand new photo voltaic farm at a landfill website, Kirt added.
Greenidge President Says Bitcoin Mining Provides Jobs, Helps Native Neighborhood and Can Assist the Atmosphere
Greenidge is only one of many crypto mining initiatives trying to rejuvenate the atmosphere by remodeling enterprise fashions and eradicating waste by means of the method. For example, Stronghold Digital Mining converts waste coal into different power with the intention to mine bitcoin and different cryptocurrencies. On the finish of Could, EZ Blockchain partnered with a Texas-based oil supplier to monetize wasted pure gasoline with bitcoin.
Earlier than Greenidge’s acquisition in 2014, the Lockwood Landfill was permitted to carry coal combustion residuals (CCR) and different wastes. Greenidge particulars that it’s going to guarantee “the positioning will not settle for waste of any form,” add a water filtration system, and a everlasting engineered membrane to cease erosion.
“For these of us who grew up and nonetheless reside proper right here within the Finger Lakes, the Lockwood Hills landfill has been a relentless presence, overlooking Seneca Lake and the Village of Dresden, and one thing we at all times hoped would finally not be wanted,” Greenidge president Dale Irwin stated in an announcement.
Irwin added that he was happy that bitcoin mining amenities can’t solely create jobs and assist native companies, however crypto mining operations also can “facilitate the event of renewable power at this outdated landfill website.”
What do you concentrate on Greenidge changing the Lockwood Hills landfill in New York? Tell us what you concentrate on this topic within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any injury or loss brought on or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.