How are US miners investing in bitcoin mining?

U.S. miners themselves are raising hundreds of millions of dollars to invest in bitcoin mining and converting abandoned factories and power plants into large bitcoin mining facilities. One example of this is Greenidge Generation, a former coal power plant in Dresden, New York that converted to natural gas and began bitcoin mining.

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What are the benefits of partnering with bitcoin miners?

For bitcoin miners, the partnerships allow them to promote projects as having an environmentally friendly source of power. "That was a big differentiator for us," said Maxim Serezhin, chief executive at Standard Power, which is building a nuclear-powered bitcoin-mining facility at a former paper mill in Coshocton, Ohio.

Is bitcoin mining bad for the environment?

"At the core of bitcoin mining is energy and energy infrastructure," said Paul Prager, chief executive of TeraWulf. The rise of vast mining operations has fueled criticism from environmentalists and others that growing use of fossil-fuel electricity for cryptocurrency could waste resources and worsen climate change.