This gas would have stayed in the ground if it wasn't for bitcoin

[Nevilledog]

https://thebulletin.org/2022/05/this-gas-would-have-stayed-in-the-ground-if-it-wasnt-for-bitcoin/


In Pennsylvania, Big Dog Energy LLC has installed 30 gas-fired generators at one of its gas well pads in Beccaria Township, using the electricity they produce in an ingenious, profitable, and possibly environmentally-damaging pursuit—mining the cryptocurrency known as bitcoin.

After the Pennsylvania Department of Environmental Protection discovered the mining operation on a January site visit, it sent the company a notice of violation that alleged the firm had installed and operated generators without authorization. Per the letter to owner Matthew Anderson, these operations violate sections of the state environmental code, which prohibits the construction or modification of an air contamination source without a permit.

Big Dog Energy also started mining bitcoin at a site in Woodward Township, and submitted notices of intent to develop gas wells in Covington and Gulich townships as well, according to reporting by Mikayla Heiss, a local journalist. It remains to be seen if the wells in Covington and Gulich would also be used to mine bitcoin.

Bitcoin is a digital cryptocurrency in which every transaction is recorded in a distributed digital ledger, with each block of transactions added to a long chain of transactions, or the blockchain. In exchange for verifying a block, which involves racing to solve complex cryptographic puzzles, so-called miners are rewarded with cryptocurrency.

*snip*

[arlyellowdog]

1. You know what? I think I understand this article

And I think they intentionally make it confusing to 1. Entice people to become part of their game and 2. Get away with wrecking the environment even though the people they are trying to entice might think that’s not a cool thing to do. So it’s all about assholes who are using fossil fuels to ultimately feed computers?

[ymetca]

2. I'd be curious to know

where the financing comes from.

Cryptocurrency is Death Spiral Capitalism at its "finest".

We are literally burning money now.

[Ron Green]

3. Sounds like we're burning the earth to make money.

But then, that’s kinda the nature of capitalism.

[Wounded Bear]

4. Burning the Earth to make fake money...nt