Cointelegraph Team
Cointelegraph
Stronghold Digital Mining (SDIG), a crypto mining company in Pennsylvania, is turning waste from old power plants into energy to power hundreds of Bitcoin mining rigs.
The company collects coal refuse, a leftover waste material from the process of coal mining, and burns it in what it says is an emissions-controlled environment at its energy generation facilities.
Coal refuse can cause a raft of environmental problems, such as water and air pollution, and acid mine drainage, the acidic water which comes from coal mining operations. Collecting this waste and safely disposing of it while generating power for crypto mining is a productive way of tackling the problem.
The state of Pennsylvania is the third-largest producer of coal in the United States, estimates put the amount of coal wastage at 881 pounds per 2,200 pounds mined, or 400 kilograms per ton. Stronghold estimates that Pennsylvania alone has over 220 million tons of harmful wastage.
Bitcoin and other proof-of-work cryptocurrencies have caught the attention of regulators recently due to their reliance on energy-intensive processes in order to mine and provide validation for the network.
Earlier this month, a New York state proposal to suspend proof-of-work mining that uses fossil fuels was introduced, citing the negative environmental impact of the process, that proposal today was advanced by the New York State Assembly. If passed, it could see proof-of-work mining suspended for up to 3 years in New York.
Other schemes have seen ways to make Bitcoin mining environmentally friendly. Earlier this month, oil drilling company ConocoPhillips started a program in North Dakota where it would sell the natural gas byproduct from its operations to Bitcoin miners instead of burning it.
Last August, Argo Blockchain, a United Kingdom-based crypto mining company announced its operations had become “climate positive” on its greenhouse gas emissions. Its planned 200 MW mining facility in Texas is also set to run on renewable energy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.