Cryptocurrency and fossil fuels

Dirty cryptocurrency mining threatens New York’s environment [EWG] [EWG] [Dirty cryptocurrency mining threatens New York’s environment]( [Take action to halt dirty cryptocurrency mining!]( [ACT NOW]( Dear friend, Did you know that some of the world’s most popular cryptocurrencies, like bitcoin, are terrible for the environment? Well, it’s true. Cryptocurrencies that use what’s called “proof of work” for mining and validating transactions need to run thousands of computers at once to solve mathematical puzzles very quickly in order to obtain newly generated cryptocurrency as a reward. This process requires so much electricity that some mining operations in New York are re-opening once-dormant fossil fuel plants in order to get the power they need. For example, in Dresden, N.Y., an old coal-fired power plant located on the shore of Seneca Lake was re-opened after six years and converted into a gas-fired power plant that now fuels an around-the-clock proof-of-work crypto mining facility. In 2020, the Greenidge plant reported a tenfold increase in greenhouse gas emissions. The discharges of hot water being dumped directly into Seneca Lake have also threatened fish and increased the risk of toxic algae blooms. New York should be taking steps to reverse climate change, not add to it. We need your help, friend – important legislation has recently come up in the New York State Senate that would place a two-year pause on new permits and renewals for fossil fuel facilities used for proof-of-work crypto mining! [Click here to contact your state senator and urge them to PASS S.6486-D to prevent crypto-mining companies from poisoning the planet!]( It’s terrifying to think that something as new and innovative as cryptocurrency could prop up something as harmful and obsolete as the fossil fuel industry. But the good news is that it’s not necessary. Most cryptocurrencies now use more energy-efficient validation methods like “proof of stake.” Proof-of-stake crypto doesn’t use mining or computer power, which substantially lowers its electricity consumption. EWG refuses to stand idly by while proof-of-work cryptocurrencies ignore the climate crisis and use more and more terawatt hours of electricity each year. The crypto-mining industry has already spent $1.5 million to lobby against regulations of the industry in New York. We need to act now to protect our environment. [Fight against dirty proof-of-work crypto mining and tell your state senator to vote for S.6486-D!]( Thanks for standing with us, friend. EWG Action Alert [CONTRIBUTE]( KNOW YOUR ENVIRONMENT. PROTECT YOUR HEALTH. [UNSUBSCRIBE]( | [CHANGE OPTIONS]( Remember to add ewg@ewg.org to your contact list. This email was sent to {EMAIL}. To change your preferred email address, [click here.]( EWG's mission is to empower people to live healthier lives in a healthier environment. EWG is a non-profit and non-partisan organization. The EWG Action Fund, a separate sister organization ofEWG, is a legislative advocacy organization that promotes healthy and sustainable policies. EWG 1250 I Street, NW, Suite 1000, Washington, DC 20005 202-667-6982 | ewg@ewg.org [Contact Us]( | [Privacy Policy]( | [Terms & Conditions]( | Copyright © 2022,EWG. All Rights Reserved.