Stronghold Digital Mining, a Pennsylvania-based cryptocurrency mining firm, reportedly uses coal waste to power its hundreds upon supercomputers. The company intends to make use of a byproduct rather than harming the US energy grid.
SDM uses coal waste
Bitcoin mining is a very energy-intensive process. Many critics claim that it causes damage to the environment and damages national electricity systems. Some reports claim that bitcoin mining uses more energy than Finland’s entire country each year.
A recent report from Reuters states that Stronghold Digital Mining, an American crypto mining company, has found an alternative method to generate electricity. The company uses coal-ash from decades-old power stations.
Stronghold Digital Mining takes it from a Pennsylvania mine. After it has been processed, the byproduct is sent to a boiler house, where it’s burned to create the electricity required to mine bitcoin.
Coal ash can leach into groundwater, polluting waterways, if it is not removed from the groundwater. It is carcinogenic because it contains heavy metals. Stronghold’s initiative stops certain amounts of coal-ash from reaching Pennsylvanians.
Greg Beard, Chief Executive Officer of the company, spoke on the subject.
“The Bitcoin mining network is the largest decentralized computer network on the planet, and it’s also power-hungry. Therefore, co-locating bitcoin mining with a power plant makes sense.”
Separately, Bill Spence, Co-Chairman for the organization, stated that mining is the “perfect niche” for crypto.
Alternatives in Canada
The authorities of North Vancouver, Canada, a city with over 50,000 inhabitants, announced that they would use the bitcoin mining energy to heat residential buildings.
This initiative was possible thanks to a collaboration between Lonsdale Energy Corporation and MintGreen, a BTC miner.
According to the latter, its “Digital Boilers”, which are more efficient than natural gas, could stop 20,000 tonnes of GHGs entering the atmosphere each MW.
Karsten Veng, CEO of LEC, believes that the partnership could benefit the city’s greener future.
LEC finds it very exciting to partner with MintGreen in this project. It’s innovative and competitive and reinforces LEC’s commitment to supporting the City’s ambitious greenhouse-gas reduction goals.
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