Group Buys Pennsylvania Coal Refuse Plants to Power Bitcoin Mining
The post Group Buys Pennsylvania Coal Refuse Plants to Power Bitcoin Mining appeared first on POWER Magazine.
A digital mining company has an agreement to purchase a second power plant in Pennsylvania, as the group increases its coal refuse reclamation operations in the state to provide energy for its bitcoin mining operations.
Stronghold Digital Mining, a bitcoin (BTC) miner headquartered in Kennerdell, Pennsylvania, on Aug. 3 said its purchase of the Panther Creek Plant, located on 33 acres in Nesquehoning, in Carbon County, adds 80 MW of generation capacity to its portfolio, which also includes the 85-MW Scrubgrass plant. Scrubgrass is located on 650 acres in Scrubgrass Township, in Venango County.
Stronghold, founded earlier this year, uses the power plants to convert coal refuse into power that is used to mine bitcoin, an energy-intensive process. Coal refuse is classified by Pennsylvania as a Tier II alternative energy resource, akin to large-scale hydropower. Coal refuse over the years has been left in piles near coal operations; today, circulating fluidized bed technology allows for emissions-controlled conversion of coal refuse into energy.…