Cryptocurrencies
This Utility Heats New York State—And Mines Its Own Bitcoin
- Atlas Holdings LLC-owned facility starts mining crypto
- Dresden-based natural gas plant installed 7,000 crypto miners
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A power plant in New York’s Finger Lakes region has set up its own Bitcoin mining operation, using the electricity it produces to generate about $50,000 worth of the virtual currency every day.
Atlas Holding LLC, the private-equity firm that runs the operation, has installed some 7,000 crypto mining machines at the Greenidge Generation plant in recent months that can mine about 5.5 Bitcoins per day. The 65,000-square-foot facility in Dresden, New York, was built in 1937 as a coal plant and later converted to natural gas.