{"id":56538,"date":"2021-12-03T10:31:00","date_gmt":"2021-12-03T15:31:00","guid":{"rendered":"https:\/\/framinghamsource.com\/?p=56538"},"modified":"2021-12-03T13:19:52","modified_gmt":"2021-12-03T18:19:52","slug":"as-cryptomining-operations-grow-sen-warren-raises-concerns-over-exponentially-growing-energy-use-climate-impact-costs-to-consumers","status":"publish","type":"post","link":"https:\/\/framinghamsource.com\/index.php\/2021\/12\/03\/as-cryptomining-operations-grow-sen-warren-raises-concerns-over-exponentially-growing-energy-use-climate-impact-costs-to-consumers\/","title":{"rendered":"As Cryptomining Operations Grow, Sen. Warren Raises Concerns over Exponentially Growing Energy Use, Climate Impact, &#038; Costs to Consumers"},"content":{"rendered":"\n<p>I<em>n full transparency, the following is a media release from Sen. Elizabeth Warren\u2019s office. She was elected by voters in the Commonwealth of Massachusetts to serve the state in Washington DC in the US Senate. She is a Democrat<\/em>. (file photo)<\/p>\n\n\n\n<p>***<\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;53820&#8243;]<\/strong><\/p>\n\n\n\n<p><br>WASHINGTON DC &#8211;<strong> <\/strong>United States Senator Elizabeth Warren (D-Mass.) is raising concerns over cryptomining\u2019s extraordinarily high energy usage, its impact on climate, and rising electricity costs for consumers as operations grow in the United States. <\/p>\n\n\n\n<p>Bitcoin mining operations tripled their annual power consumption since 2019, consuming as much energy as Washington State and rivaling the total energy usage of countries like Denmark, Chile, and Argentina.<\/p>\n\n\n\n<p> In a letter to Greenidge Generation Holdings Inc., which operates one of the country\u2019s largest Bitcoin mining facilities in Dresden, New York, and claims to be \u201can entirely carbon neutral bitcoin mining operation,\u201d Senator Warren expressed concern about the company\u2019s energy usage and its impacts on the environment and consumers.<\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;59948&#8243;]<\/strong><\/p>\n\n\n\n<p><br>\u201cBitcoin\u2019s estimated annual power consumption increased more than threefold between the beginning of 2019 and May 2021, rivaling the total energy usage of countries such as Denmark, Chile, and Argentina, and comparable to the entire energy consumption of Washington State. Given the extraordinarily high energy usage and carbon emissions associated with Bitcoin mining, mining operations at Greenidge and other plants raise concerns about their impacts on the global environment, on local ecosystems, and on consumer electricity costs. Therefore, as you move forward with plans to expand operations in New York and South Carolina, I seek information on Greenidge\u2019s operations and the resulting impacts on the environment and local communities,\u201d\u00a0wrote Senator Warren.<\/p>\n\n\n\n<p><strong>\u00a0<\/strong><br>Senator Warren noted that while Jeffrey Kirt, the CEO of Greenidge, claimed that \u201cBitcoin mining at Greenidge is already a model for the industry in that we are advancing this emerging financial platform for people across the world in a manner that fully protects our environment,\u201d the Dresden plant\u2019s greenhouse gas emissions increased nearly tenfold from 2019 to 2020. In 2020, it sent over 220,000 metric tons of carbon dioxide into the atmosphere \u2013\u00a0 equivalent to the emissions of 50,000 cars.\u00a0<\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;59947&#8243;]<\/strong><\/p>\n\n\n\n<p>And since the plant began operations, local residents have raised concerns over declining water quality and substantial harm to local wildlife, as the plant vacuums up to 139 million gallons of water a day from Seneca Lake and then discharges heated water back into the lake. This has resulted in reports of \u201csludge, algae, insects, dead fish, and foul smells.\u201d <\/p>\n\n\n\n<p>There is also concern about cryptomining facilities\u2019 energy consumption causing significant increases in energy costs for local small businesses and residents. In Plattsburgh, New York, cryptomining resulted in residential electricity bills \u201cup to $300 higher than usual\u201d in the winter of 2018, leading the city to introduce the nation\u2019s first 18 month moratorium on new cryptomining operations. <\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;59945&#8243;]<\/strong><\/p>\n\n\n\n<p>A\u00a0<a href=\"http:\/\/ct.symplicity.com\/t\/wrn\/51d70ef13c6d6d164b459d230ed70b78\/2665571418\/realurl=https:\/newsroom.haas.berkeley.edu\/research\/power-hungry-cryptominers-push-up-electricity-costs-for-locals\/\">recent study found that<\/a>\u00a0\u201cthe power demands of cryptocurrency mining operations in upstate New York push up annual electric bills by about $165 million for small businesses and $79 million for individuals.\u201d<\/p>\n\n\n\n<p>With Greenidge announcing plans to ramp up its Bitcoin mining and expand to new locations, Senator Warren asked for a detailed response to questions about its commitment to environmental protection, its scaling plans, and its emissions by no later than December 17, 2021.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"523\" height=\"639\" src=\"https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/10\/insurance.house_.ad_.source.2020.png\" alt=\"\" class=\"wp-image-21433\" srcset=\"https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/10\/insurance.house_.ad_.source.2020.png 523w, https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/10\/insurance.house_.ad_.source.2020-246x300.png 246w\" sizes=\"auto, (max-width: 523px) 100vw, 523px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In full transparency, the following is a media release from Sen. Elizabeth Warren\u2019s office. She was elected by voters in the Commonwealth of Massachusetts to serve the state in Washington DC in the US Senate. She is a Democrat. (file photo) *** [broadstreet zone=&#8221;53820&#8243;] WASHINGTON DC &#8211; United States Senator Elizabeth Warren (D-Mass.) is raising [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":56540,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[9,15,57],"tags":[14396,14397,6567,14398,6392,4595,14399,142],"class_list":["post-56538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-government","category-state-federal-government","tag-bitcoin","tag-bitcoin-mining","tag-climate-change","tag-cryptomining","tag-economy","tag-environment","tag-greenidge-generation-holdings-inc","tag-sen-elizabeth-warren"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>As Cryptomining Operations Grow, Sen. 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