The world's oldest three-phase electric power plant announced that it would use part of its electricity for Bitcoin mining.
The world's oldest three-phase electric power plant, the Mechanicville Power Station (Mechanicville Power Station), established in 1897, announced that it would use part of the electricity it produces for Bitcoin mining.
According to Jim Besha, CEO of Albany Engineering, the oldest three-phase AC hydroelectric power station is mining Bitcoin because the project is more profitable than selling the remaining energy.
The report was released after Bitcoin mining has come under fire for its carbon footprint impact. It is worth noting that most Bitcoin mining companies in China have been forced to close or move from China to other places. As a result, the crypto market has been dramatically affected. So far, the price of BTC has fallen by nearly 50% from its all-time high of $64,800 in mid-April.
On this point, Besha pointed out that this debate does not worry him because they use renewable energy. In addition, he also said that mining is just a sideline because they are also dealing with used servers.
CEO Jim Besha said,
"This is the best way to mine Bitcoin because we use renewable energy. We are just doing sideline operations and experimenting. We are buying second-hand servers."
In addition, this mining idea was born after an existing bill in New York. Unfortunately, due to environmental issues, the bill will ban Bitcoin mining. However, it is unclear how the company will affect Bitcoin mining work because it uses renewable energy.
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