The 124-year-old power plant, Mechanicville, could use some of its energy to mine Bitcoin in the near future.
Jim Besha, CEO of Albany Engineering Corp - the owner of the Mechanicville power plant recently said that this place can be used to mine Bitcoin.
“This activity is more profitable than selling energy,” says Jim.
Built in 1897, Mechanicville is famous as the oldest 3-phase AC hydroelectric power station in the world.
Jim's statement comes in the context of Bitcoin mining currently affected by the impact of carbon emissions. The majority of Bitcoin mining companies in China were forced to close down or move to another country under the control of the authorities.
However, Jim Besha said that such debate and suppression is not related to mining because the plant will use renewable energy.
“This is the best type of Bitcoin mining because it uses renewable energy. We are buying used miners and testing this model in a separate area of the factory,” added Besha.
The idea of using a Bitcoin mining power plant came after New York's bill to ban Bitcoin mining because of environmental problems.
However, it is unclear how the bill will affect this operation of Mechanicville because the company claims to use renewable energy.