Finger Lakes bitcoin mining plant seeks license renewal

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DRESDE, NY A Finger Lakes bitcoin mining factory is awaiting word from the state on whether it will be allowed to continue harvesting cryptocurrency at its Seneca Lake factory.

Greenidge Generation is requesting the renewal of its Title V license at its Dresden site. It expired on Monday. This permit obliges companies to monitor and control its greenhouse gas emissions.

Greenidge brought the old powerhouse online several years ago and then started mining bitcoin with thousands of computers.

Environmental opponents believe that the natural gas it uses is harmful to the environment. Greenidge filed his first permit with the Cuomo administration. Governor Kathy Hochul’s team will review this permit.

Greenidge is in the process of merging with Delaware-based support.com, which provides technical and customer support services.

The shareholders of this company vote on the merger on Friday. If this materializes, Greenidge would trade publicly on the Nasdaq.

All this as federal lawmakers contemplate a new crypto tax declaration bill that could slow investment and innovation in bitcoin operations like Seneca Lake.

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