Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»What the Presidential Election Could Mean for Cryptocurrency Mining in New York – New York City News Service
    Cryptocurrency

    What the Presidential Election Could Mean for Cryptocurrency Mining in New York – New York City News Service

    October 23, 20242 Mins Read


     

    The Greenidge fossil fuel power plant in the Finger Lakes primarily generates electricity used to power computer servers that mine Bitcoin. (Credit: Matt Wittmeyer)

    The Greenidge fossil fuel power plant in the Finger Lakes primarily generates electricity used to power computer servers that mine Bitcoin. (Credit: Matt Wittmeyer, City & State New York)

     

    On a sunny, 75-degree day in June 2023, Yvonne Taylor and her husband were out for a drive in the Finger Lakes – a lush section of Central New York known for rolling vineyards and sparkling glacial lakes. As she looked into the distance, Taylor heard a loud screech and watched as a flame shot into the air like a torch, as a local bitcoin mining operation flared natural gas as part of a mandatory safety check.

    The flare, and the screech, interrupted an otherwise bucolic Father’s Day weekend. For Taylor, the vice president of the grassroots environmental group Seneca Lake Guardian, it was yet another reminder that the Greenidge power plant was burning fossil fuels around the clock. And unlike typical power plants, which produce energy to power homes and businesses, Greenidge’s power is primarily used to run thousands of computer servers stored on the grounds of the plant. Those servers are mining bitcoin – running the same computational process over and over again in order to help secure and verify the cryptocurrency’s decentralized network, in exchange for some of the virtual currency. Taylor and other advocates in the state have been working for years to shut down the Greenidge facility and other energy-hungry crypto mining operations. So far, they have had mixed success.

    As the presidential election draws near, the fate of New York’s crypto mining policies – and the state’s overall climate goals – hangs in the balance. Environmental advocates and policy experts say that federal regulation of fossil fuel-based bitcoin mining is needed, especially since state-level policies meant to restrict the practice have proven difficult to enforce. With both former President Donald Trump and Vice President Kamala Harris looking to attract support from the cryptocurrency industry, which has poured hundreds of millions of dollars into the presidential race and congressional campaigns, a federal crackdown on the industry seems increasingly unlikely.

     

    READ MORE.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    New Cryptocurrency Releases, Listings, & Presales Today – JuChain, Ceylon, Zentium Tech

    Cryptocurrency

    Cryptocurrency Today: Why BAY Miner Is Redefining the Future of Digital Mining

    Cryptocurrency

    Pakistan Prepares Digital Currency Pilot, Central Bank Confirms

    Cryptocurrency

    Nigeria’s eNaira & Forex Liquidity

    Cryptocurrency

    Pakistan to launch digital currency pilot soon

    Cryptocurrency

    You can soon pay for your Emirates flight using cryptocurrency

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Transcript : Caledonia Investments Plc – Shareholder/Analyst Call -Le 22 janvier 2025 à 12:00

    Commodities

    The Energy Storage Logjam is Breaking: Sodium-sulfur Batteries Can Help

    Cryptocurrency

    Trump and Harris Battle for Digital Votes

    Editors Picks

    Why electric utilities need meteorologists

    October 25, 2024

    US Banking Agencies Are Ramping Up Scrutiny of Bank-Fintech Partnerships | Skadden, Arps, Slate, Meagher & Flom LLP

    August 21, 2024

    Property developers gear up for green belt ‘gold rush’

    July 13, 2024

    The View | Could Asian and European real estate benefit from heightened US risks?

    April 21, 2025
    What's Hot

    Puma Pulsar Wedge Chain WMNS Frosted Ivory / Silver – Aug 2024 – 400491-01

    August 29, 2024

    Independent cattle producers gather in Deadwood for 2025 R-CALF USA convention

    June 27, 2025

    Did You Know That Top 10 Crypto Market Cap Rankings Will Be Totally Changed This Year? Here Are the Key Insider Tips

    August 23, 2024
    Our Picks

    E-Commodities prévoit une baisse des bénéfices de 1 milliard de dollars HK en 2024 -Le 12 mars 2025 à 09:21

    March 12, 2025

    China, Brazil boost agricultural trade

    May 12, 2025

    Why is the government betting big on a technology that promises much, but has so far delivered little? | Science, Climate & Tech News

    October 25, 2024
    Weekly Top

    Million Victories lève 40 millions de dollars pour accélérer son expansion mondiale

    July 9, 2025

    Credas launches digital wallet, payments as property sector adapts to UK changes

    July 9, 2025

    Pakistan Prepares Digital Currency Pilot, Central Bank Confirms

    July 9, 2025
    Editor's Pick

    Integrated electrocatalytic synthesis of ammonium nitrate from dilute NO gas on metal organic frameworks-modified gas diffusion electrodes

    August 22, 2024

    Pennylane lève 75 millions d’euros en vue de la réforme sur la facturation électronique

    April 6, 2025

    How Blockchain and Cryptocurrency Are Empowering Indie Game Developers

    April 30, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.