I was just reading an article the other day where they were talking about one of the new crypto mining facilities in upstate New York. Apparently many companies have started to move that way due to the significantly lower energy costs.
Personally, I see this as a good thing. I think as the United States sees more and more companies establishing businesses like this it is going to further enforce the legitimacy of crypto currency to them and force them to make some decisions that they have been putting off for a long time. Most specifically regarding the rules and regulations that they keep talking about but never taking action.
Of course there are always detractors and in this case it is coming from a very surprising source.
Apparently, the crypto mining company in the article has located their facility on the banks of a lake in upstate New York. They pump in the water from the lake to cool their mining rigs and then they send the warmed water back into the lake.
The company has all of the proper permitting to only pump in and out a certain amount of water each day. Additionally, they have strict temperature guidelines they have to follow for the water they pump back out. In most cases they have not even been halfway to the temperature thresholds that are established.
For example they can't pump water any warmer than 126 degrees Fahrenheit back into the lake or something like that. The water they have been pumping is only 66 degrees, etc.
Despite that fact, a number of residents that live around the lake have started to raise concerns that the mining facility is raising the temperature of the lake.
Here is a link to one of the recent stories about it if you want to check it out yourself.
To me, this feels a lot like low hanging fruit. At least in my neck of the woods it has been a much hotter and dryer Summer than usual so far. I think we are going to get short respite soon, but there is no doubt in my mind global warming does exist.
I am sure it isn't possible that is part of what might be contributing to the increased temperatures in the lake. Nope, it has to be that evil fake Internet money...
My guess is, many of these people who are complaining don't even understand the fundamentals of crypto currency to realize what they are saying is ridiculous.
While I don't disagree that the lake temperatures might be rising from the plant, I think they are using it as a crutch to attack something they don't understand. The fact is, the plant is brining jobs and revenue (through taxes) to the community.
The supposed environmental impact becomes the easy thing to attack right now because there have already been unfounded and sensational articles about it.
Like I said, it feels like low hanging fruit and bandwagon jumping to me.
What do you think? Did you read one of the articles about this plant? Do the residents have a point?
Let's discuss it in the comments!
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