The decision was being viewed as an omen for Bitcoin mining in state

By Josh Saul and David Pan, Crypto

New York State rejected the renewal permit for a power plant used by Greenidge Generation Holdings Inc. for Bitcoin mining, a decision that comes after about six months of delays.

The Department of Environmental Conservation said it denied the application because of statewide limits on greenhouse gas emissions.

The ruling comes amid a heated debate between environmental groups and cryptocurrency miners about Bitcoin mining, which uses energy-intensive computers to process records of transactions and earn rewards in the virtual currency. It has become one of the most lucrative businesses and has expanded rapidly in the US. 

Environmentalists want NY Gov. Kathy Hochul to pull the plug on crypto mining

Still, New York is putting forward restrictive measures on crypto mining facilities. The state Senate recently passed a bill that bars miners from using fossil-fuel sources to power their operations.

The bill is set to be delivered to Governor Kathy Hochul, who will decide whether it should become law. Hochul didn’t respond to a request for comment on the legislation.

This is the first time Greenidge’s permits to operate the natural-gas fired facility in upstate Dresden have come up for renewal. The state agency delayed decisions in January and again in March. 

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