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Daniel Batten
Daniel Batten|Mar 13, 2025 13:53
Just so you can be on the front foot if you hear the question "are Bitcoin mining companies moving to coal again" the answer is "no." This headline from @POWERmagazine is misleading by incorrectly by calling the fuel source coal, and inferring that it represents new bitcoin mining activity. Here's some missing context. 1. The input is Gob (coal refuse), not coal. Gob is a known environmental hazard left over from coal mining, classified as as eligible for renewable-energy tax credits in Pennsylvania (same category as hydropower). 2. Bitfarms are purchasing the plants off existing Bitcoin mining company Stronghold, so it is simply the transfer of assets from one Bitcoin mining company to another, not a new operation. Gob is an environmental hazard that gets into waterways and contaminates soil. It can also catch on fire, which releases methane into the atmosphere (though the exact amounts are hard to quantify). Here's an article on previous owner Stronghold, which covers the nuances of their operation https://www.forbes.com/sites/christopherhelman/2021/08/02/green-bitcoin-mining-the-big-profits-in-clean-crypto/
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Timeline

Apr 11, 05:48【Grayscale and Osprey reach settlement for Bitcoin Trust ETF】
Apr 08, 01:56【Ledger SAS must respond to consumer allegations in the United States】
Apr 01, 14:11【Tigran Gambaryan speaks at Chainalysis event】
Mar 30, 05:31【South African FSCA issues warning to Afriinvest and Mutualwealth】
Mar 20, 05:14【RedStone clarifies false rumors of collaboration with Web3Port and Whisper】
Mar 20, 05:06【RedStone has not collaborated with Web3Port and Whisper】
Mar 18, 06:56【Burwick Law sues over LIBRA token issuance】
Mar 18, 03:33【Burwick Law sues over LIBRA token issuance】
Mar 18, 03:30【Burwick Law sues in New York Supreme Court】
Mar 13, 13:52【Bitcoin mining companies have not turned to coal】

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