Enlarge / In this aerial photo of Greenidge Generation's power plant outside Dresden, NY, Seneca Lake is visible in the background. The lake receives warm water from Greenidge's operations. (credit: Greenidge Generation LLC)
The fossil fuel power plant that a private equity firm revived to mine bitcoin is at it again. Not content to just pollute the atmosphere in pursuit of a volatile crypto asset with little real-world utility, this experiment in free marketeering is also dumping tens of millions of gallons of hot water into glacial Seneca Lake in upstate New York.
“The lake is so warm you feel like you’re in a hot tub,” Abi Buddington, who lives near the Greenidge power plant, told NBC News.
In the past, nearby residents weren’t necessarily enamored with the idea of a pollution-spewing power plant warming their deep, cold water lake, but at least the electricity produced by the plant was powering their homes. Today, they’re lucky if a small fraction does. Most of the time, the turbines are burning natural gas solely to mint profits for the private equity firm Atlas Holdings by mining bitcoin.
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