One firm in Pennsylvania has figured out a way to make use of coal waste, and profit from cleaning the surroundings.
According to a report by Reuters, the newly established Bitcoin mining company Stronghold Digital Mining has reportedly started to use coal ash, which is left as waste from defunct coal power plants, to run Bitcoin mining farms.
While the effects on the atmosphere were not addressed, coal ash left on the ground, according to the post, may clog and pollute underground waterways. However, the company picks up the leftover ash and uses it for electricity to run its Bitcoin mining operations.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is a Rug Pull in Crypto? (Meaning + Examples)
CEO of Stronghold Digital Mining Greg Beard spoke on the incentive to use coal ash to mine crypto, stating:
"The bitcoin mining network itself is the largest decentralized computer network in the world, and it's power hungry, so co-locating bitcoin mining and a power plant makes a lot of sense."
While there have been several countries that decided to cut down on Bitcoin mining due to the vast amounts of electricity usage, people have been even more encouraged to continue crypto mining, especially with the Intel ASIC chips underway.
With that being said, it’s still unclear the actual effects of crypto mining on the environment. Back in January, creators of the Wikimedia Foundation were criticized for taking digital asset donations despite their stance on environmental sustainability.