Pennsylvania Crypto-Mining Firm Faces Opposition Over Tire Fuel Usage
Summary:
Pennsylvania crypto-mining firm Stronghold Digital Mining faces opposition as it seeks approval to use shredded tires for up to 15% of its energy production at its Panther Creek plant in Nesquehoning. Environmental activists are calling on regulators to deny the request, citing concerns over air pollution and the company's use of coal for mining. Stronghold reported mining 626 Bitcoin in Q2 2023 but recorded a net loss of $11.7 million.
Pennsylvania-based crypto-mining company, Stronghold Digital Mining, is seeking approval to use shredded tires for up to 15% of its energy production at its Panther Creek plant in Nesquehoning. Local environmental activists are gearing up to oppose this move, calling on state regulators and the DEP to deny the company's request to burn tires as fuel for its bitcoin mining operations. The application was reportedly filed with the Pennsylvania Department of Environmental Protection in July, but only recently became public knowledge. Stronghold cites the EPA's approval of Tire Derived Fuel (TDF) at other industrial facilities in the state, although activists question the legitimacy of the existing facilities already consuming TDF and argue against granting permission to the crypto mining operation. Clean Air Council advocate, Russell Zerbo, suggests that the plant should be re-permitted as a solid waste incinerator due to its use of electricity for cryptocurrency mining instead of selling it to the energy grid. Earthjustice attorney, Charles McPhedran, points out the significant increase in sulfur dioxide and nitrogen oxide emissions since Stronghold took over the Panther Creek plant in 2021. Despite the availability of waste coal in Pennsylvania, Stronghold did not hesitate to use coal for mining, contributing to the state's existing environmental pollution. In its Q2 2023 financial results, Stronghold revealed mining 626 Bitcoin, representing a 43% increase from Q4 2022 and 1% sequential growth compared to Q1 2023. The company generated $18.2 million in revenue but recorded a net loss of $11.7 million.
Published At
8/30/2023 8:40:28 AM
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