Bitcoin’s energy problem

As Bitcoin mining operations seek to expand in NYS, some residents are concerned about the impact of cryptocurrency on greenhouse gas emissions. In a May 4 interview, Cornell faculty member Eilyan Bitar, who specializes in power markets and grid operations, said, “Bitcoin mining operations are driving an increase in demand. Ultimately their impact on greenhouse gas emissions, total greenhouse gas emissions outputs in New York State, or the United States or the world more broadly, will depend on how that demand is being met.”

Amid environmental concerns in several Finger Lakes communities, former Cornell lecturer and current Assemblymember Anna Kelles (D-125), said she will introduce legislation to implement a temporary moratorium on cryptocurrency mining operations in the state, so that lawmakers can assess the environmental impacts of these operations.