The American company Stronghold Digital Mining, which is engaged in the extraction of cryptocurrency, has officially announced the purchase of another coal-fired power plant called Panther Creek in Pennsylvania, USA. Company officials said they plan to use the power plant’s resources for environmentally beneficial cryptocurrency mining – instead of burning conventional coal, Panther Creek will use coal dumps as fuel. These are artificially created waste heaps from solid fuel combustion – in the state of Pennsylvania, as it turned out, they create a lot of problems.
The fact is that there are indeed many coal dumps in Pennsylvania, which have become an environmental problem for the population. These waste products emit impressive volumes of carbon dioxide into the air, and the kidney under the waste heaps is filled with aluminum, iron, manganese and other metals. All this systematically falls into the groundwater, contaminating everything around. Stronghold Digital Mining said that they will gradually burn these waste heaps, significantly reducing the level of harmful emissions into the atmosphere, and the liberated territory will be given to the state authorities. Naturally, all this is done not only for the sake of the environment – the company plans to make good money along the way.
Waste is great for generating electricity, which is used to power ASICs when mining Bitcoin. Approximately 200 tons of these coal dumps will be enough to get energy for the production of 1 bitcoin – its cost at the moment is 43 thousand dollars. Accordingly, Stronghold Digital Mining received a sufficiently powerful power plant and extremely affordable fuel for its operation, plus the state receives a bonus in the form of improved ecology and dozens of hectares of free land that can be reused. And the coal dumps themselves will be enough to mine bitcoins for 30 years – the purchase will clearly pay off.
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