KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling

Subscribe to Updates

Get the latest Crypto news from kronosslott.

What's Hot

What is going on with Aptos’ price?

January 29, 2023

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023
Facebook Twitter Instagram
  • Affiliate Disclosure
  • Anti Spam Policy
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram
KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling
KronosSlott
Home » This Bitcoin Mine Is Getting Rid Of Pennsylvania’s Leftover Coal Waste

This Bitcoin Mine Is Getting Rid Of Pennsylvania’s Leftover Coal Waste

adminBy adminOctober 15, 2022No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Burning coal, close up
Share
Facebook Twitter LinkedIn Pinterest Email


Who’s going to put leftover coal to use powering the world’s most incredible financial network? Bitcoin, that’s who. Another day, another story about bitcoin mining actually protecting the environment in a practical way. This time we travel to the previously-abandoned Panther Creek Energy Facility in coal country, Pennsylvania. Stronghold Digital Mining purchased it and, besides mining, it’s using it to consume the leftover coal waste present in the state.

According to ESG guidelines, coal burning is negative for the environment. They are probably right about that, but, what about the already-mined piles of coal left all around the world? That’s the core idea behind energy industry veteran Bill Spence’s plan to clean up “his home state of coal refuse.” While also getting the bitcoin network’s mining rewards, of course. The Panther Creek Energy Facility consists of “80 trailers on site, each containing 64 computer servers.”

That naive description comes courtesy of ABC, who first reported on the curious mining site. “It could be part of the future of digital currency, it could be a new way to clean up the environment, or it could be both,” ABC writes to introduce the surprisingly positive article. 

Eradicating The Leftover Coal Problem

Make no mistake, “this is not a zero-carbon project.” However, as Spence will explain, it serves a five-billion-dollar purpose. You see, “Pennsylvania has millions of tons of leftover coal waste piled next to towns, polluting groundwater and sending ash toxins into the air.” Then, the article uses drama to get its point across: “Spence, a cancer survivor himself, says someone has to get rid of it.” And quotes him to solidify it:

“These communities built America, they powered America, and this material was dumped in these communities. What we do is we eradicate the problem.”

The leftover coal is not a small problem by any chance, “Pennsylvania’s Department of Environmental Protection estimates it would cost taxpayers more than $5 billion to clean up all of the state’s abandoned mines.” That being said, “Stronghold expects to have the four million tons of coal waste at the Swoyersville site cleared in a few years, potentially saving the nearby residents from the ill-health effects and paving the way for new development and open space.”

How’s bitcoin mining bad for the environment again?

BTC price chart for 10/14/2022 on Gemini | Source: BTC/USD on TradingView.com

How Does The Mine Gets Rid Of Coal?

The picture the article paints is not pretty, but it has to be done:

“Workers transport the coal waste from several sites, the largest being the Swoyersville dump site near Wilkes-Barre. They separate usable coal from the massive piles and use it to generate electricity.”

With that electricity, of course, Stronghold and Bill Spence mine bitcoin. An activity that the article describes in the darndest way, “the Blockchain, an automated computer ledger for Bitcoin, grants Stronghold fractions of Bitcoin as a “thank you” in return.” That’s how ABC described bitcoin mining in 2022. We are so early. 

In any case, the article quotes Stronghold Digital Mining’s Dave Buchinski: 

“It’s kind of like building the internet, right, when not anybody knew what the internet was not too long ago. It’s definitely a little bit different, but it’s a more sustainable way to do transactions and so we’re building that infrastructure for that down the road.” 

And Bill Spence one more time:

“There’s a direct correlation in art with us, with Bitcoin and cleaning up the environment.”

The case for PoW mining as the environment’s best friend is stronger every day. Bitcoin’s unique characteristics make it a force for good of epic proportions, and there’s nothing its enemies can do about it. Bitcoin doesn’t care. Tick tock, next block.

Featured Image by Nikolay Kovalenko on Unsplash  | Charts by TradingView

CK Pool, a miner, black & white



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
  • Website

Related Posts

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits – Exchanges Bitcoin News

December 12, 2022

What is a Doji candle pattern and how to trade with it?

December 12, 2022

Bitcoin Price Slides As Markets Brace For Fed Policy Decision And Inflation Data

December 12, 2022

Comments are closed.

Don't Miss

What is going on with Aptos’ price?

Blockchain January 29, 2023

Join Our Telegram channel to stay up to date on breaking news coverage According to…

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023

BTC/USD Consolidates Around $23,000 Level

January 28, 2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

What is going on with Aptos’ price?

January 29, 2023

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023

BTC/USD Consolidates Around $23,000 Level

January 28, 2023

Subscribe to Updates

Get the latest Crypto news from kronosslott.

About Us
About Us

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Pinterest YouTube WhatsApp
Categories
  • Altcoin (4)
  • Bitcoin (2,020)
  • Blockchain (780)
  • Ethereum (320)
  • Gambling (2,082)
  • Litecoin (55)
  • NFTs (2)
Our Picks

What is going on with Aptos’ price?

January 29, 2023

Gala Price Prediction for Today, January 28: GALA/USD Trades Above $0.060 as a Retracement May Follow

January 28, 2023

OXT/USD Rises Above $0.10; What Next?

January 28, 2023
©2022 –Kronosslott. All Rights Reserved. Kronosslott.com is an independent i-Gaming news site and casino comparison service. Every effort is made to ensure that the bonus offers listed here are accurate and up-to-date. However, we accept no responsibility for inaccuracies or errors. It is your responsibility to confirm the terms of any promotion you choose to accept. Looking to Advertise with us? Kronosslott is always looking for new partnerships. To Inquire please email kronosslott@gmail.com

Type above and press Enter to search. Press Esc to cancel.