This Bitcoin Mine Gets Rid of Pennsylvania’s Coal Waste
Who will use coal scraps to run the world’s most incredible financial network? Bitcoin, that’s who. Another day, another story about bitcoin mining actually protecting the environment in a practical way. This time we travel to the formerly abandoned Panther Creek Energy Facility in coal country, Pennsylvania. Stronghold Digital Mining bought it and, in addition to mining, uses it to consume the remains of the coal waste in the state.
According to ESG guidelines, burning coal is negative for the environment. They are probably right about that, but what about the already mined piles of coal left around the world? That’s the core idea behind energy industry veteran Bill Spence’s plan to clean up “his home state of coal waste.” While you also get the bitcoin network mining rewards, of course. The Panther Creek Energy Facility consists of “80 on-site trailers, each containing 64 data servers.”
The naive description comes courtesy of ABC, who first reported on the curious mining site. “It could be part of the future of digital currency, it could be a new way to clean up the environment, or it could be both,” writes ABC to introduce the surprisingly upbeat article.
Eradicate the coal problem
Make no mistake, “this is not a zero carbon project.” But as Spence will explain, it serves a five billion dollar purpose. You see, “Pennsylvania has millions of tons of coal tailings piled next to cities, polluting groundwater and sending ash toxins into the air.” Then the article uses drama to get the point across: “Spence, a cancer survivor herself, says someone has to get rid of it.” And quoting him to confirm it:
“These communities built America, they ran America, and this material was dumped in these communities. What we’re doing is eradicating the problem.”
The coal tailings happen to be no small problem, “Pennsylvania’s Department of Environmental Protection estimates it would cost taxpayers more than $5 billion to clean up all of the state’s abandoned mines.” That said, “Stronghold expects to clear the four million tons of coal waste at the Swoyersville site within a few years, potentially saving nearby residents from the ill health effects and paving the way for new development and open space.”
How is bitcoin mining bad for the environment again?
BTC price chart for 10/14/2022 on Gemini | Source: BTC/USD on TradingView.com
How does the mine get rid of coal?
The picture the article paints is not pretty, but it has to be done:
“Workers transport the coal waste from several locations, the largest being the Swoyersville landfill near Wilkes-Barre. They separate usable coal from the massive piles and use it to generate electricity.”
With that stream, of course, Stronghold and Bill Spence mine bitcoin. An activity the article describes in the worst way, “Blockchain, an automated computer ledger for Bitcoin, gives Stronghold fractions of Bitcoin as a ‘thank you’ in return.” That’s how ABC described bitcoin mining in 2022. We’re so early.
In any case, the article quotes Stronghold Digital Mining’s Dave Buchinski:
“It’s a bit like building the internet, isn’t it, when nobody knew what the internet was not that long ago. It’s definitely a little bit different, but it’s a more sustainable way of doing transactions, and so we’re building that infrastructure for that down the road.”
And Bill Spence once more:
“There is a direct correlation in art with us, with Bitcoin and cleaning up the environment.”
The case for PoW mining as the environment’s best friend is getting stronger every day. Bitcoin’s unique properties make it a force of good of epic proportions, and there is nothing its enemies can do about it. Bitcoin doesn’t care. Tick tick, next block.
Featured Image by Nikolay Kovalenko on Unsplash | Charts by TradingView
