The absorption of cryptocurrency mining operations into the resource-heavy world of power generation has sparked a wave of criticism, especially in Pennsylvania. An emblematic instance involves Panther Creek Power Plant in Nesquehoning, Pennsylvania, where energy-intensive cryptocurrency mining is conducted onsite. The facility was purchased by Stronghold Digital Mining in 2021 and the subsequent operations by the firm has raised serious environmental concerns.
Despite having received multiple violations from the state’s Department of Environmental Protection for air pollution, the plant has in recent times sought approval for burning tires to generate energy for cryptocurrency mining. This process involves heating used tires, separating the usable components, and then utilising the resulting fuel for energy production. Yet, some citizens, like Steve Chuckra, feel this is simply another example of the historical environmental neglect within Pennsylvania.
Questions have been raised about the perceived benefit of such energy production methods considering the environmental aftermath. Stronghold may argue that this is one way to meet the high energy demand of crypto mining operations, but is the promise of profit worth the potential environmental cost? The plant has a submission pending with the Department of Environmental Protection to allow waste tires to account for up to 15% of its fuel, but the proposition has not been well received by local residents and environmental groups.
Though their concerns are valid, crypto miners see the situation from a different perspective. Unconventional and affordable energy generation options potentially mean increased profitability. In fact, Bitcoin mining, which consumes as much energy annually as entire countries like Sweden and Malaysia, has been on a relentless search for the cheapest energy sources.
However, the environmental concern stands tall. The combustion of tires more significantly pollutes the air compared to coal emissions and can also be highly harmful to humans. States like Colorado, with their extensive waste tire graveyards, are testimony to the environmental risks. Not to mention, waste tire sites are more likely to become breeding grounds for disease-carrying mosquitos.
Linda Christman, the president of local advocacy group Save Carbon County, striked a chord when she pointed out the people most affected by the dubious initiatives of Panther Creek belong to underprivileged backgrounds. Ensuring environmental justice in such communities could thus be jeopardized.
Yet, amid the heated discussion about cryptocurrency mining’s high energy requirement, there are debates about how “green” it truly is, with only 39% of total energy consumption reportedly coming from renewables. Increased transparency and a shift towards decarbonizing the industry have been some of the proposed ways to make cryptocurrency’s future brighter, albeit greener.
Source: Cryptonews
