Cryptocurrency Giant Locks Horns with New York over Power Plant's Fate

Cryptocurrency Company Files Lawsuit Against New York DEC to Maintain Finger Lakes Power Plant Operations

A cryptocurrency mining company has initiated legal action against the New York Department of Environmental Conservation (DEC) in an attempt to continue operating its power plant in the Finger Lakes region. The company, Greenidge Generation Holdings, alleges that the DEC's decision to deny its air permit renewal was arbitrary and capricious.

Greenidge's power plant, located in Dresden, New York, has been a source of controversy since it began operating in 2019. The plant uses natural gas to generate electricity, which is then used to power cryptocurrency mining operations. Critics of the plant argue that it is a major source of air pollution and that its operations are incompatible with the state's climate goals.

In March 2022, the DEC denied Greenidge's application for an air permit renewal. The DEC cited concerns about the plant's air emissions, including greenhouse gases and particulate matter. Greenidge appealed the decision, but the DEC upheld its denial in June 2022.

In its lawsuit, Greenidge argues that the DEC's decision was based on a flawed analysis of the plant's environmental impacts. The company also claims that the DEC failed to consider the economic benefits of the plant, which employs over 100 people and generates millions of dollars in revenue for the local economy.

The DEC has not yet filed a response to the lawsuit. A hearing on the case is scheduled for September 2023.