Finger Lakes bitcoin mining plant seeks permit renewal

DRESDEN, N.Y. —  A Finger Lakes bitcoin mining plant awaits word from the state on whether it will be allowed to keep harvesting cryptocurrency at its plant on Seneca Lake.

Greenidge Generation is seeking renewal of its Title V permit at its Dresden facility. It expired on Monday. That permit makes companies monitor and control its greenhouse gas emissions.

Greenidge brought the old power plant online several years ago, then started mining bitcoin from it with thousands of computers.

Environmental opponents believe the natural gas it uses hurts the environment. Greenidge filed for its first permit with the Cuomo administration. Gov. Kathy Hochul’s team will consider this permit.

Greenidge is close to a merger with Delaware-based, which provides technical and customer support services.

Shareholders of that company vote on the merger Friday. If it goes through, Greenidge would trade publicly on Nasdaq.

All of this as federal lawmakers consider a new crypto tax reporting bill that could slow investment and innovation in bitcoin operations like the one on Seneca Lake.