Kahn: Greenidge provides a blueprint for private equity to resurrect fossil plants
Brian Kahn · How bitcoin is keeping zombie power plants alive · Apr 20, 2022 · at 20:25
Brian Kahn argues that permitting fossil-fuel-powered Bitcoin mines will encourage private equity and crypto firms to restart retired power plants across the region.
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“It's absolutely possible that those plants could come back just like Greenwich did. And that, I think, is the biggest concern here is that if you are a Bitcoin mining company, if you are a private equity firm, if you're a venture capitalist, You can be looking at what's happening here with this plant, and if these permits do go through, and if it is allowed to continue operating, that is essentially you have, you're looking at the blueprint for how to buy a power plant and vertically integrate it, get Bitcoin mine into it, and make millions of dollars.”
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