Calling for a full generic environmental impact statement review of proof of work crypto mining operations.
Contrasting the economic and environmental impact of 144 Finger Lakes wineries with 1 cryptocurrency mining facility.
In June of 2022, the New York State Assembly and Senate both moved to pass a bill calling for a pause on operations at repurposed power plants used for mining cryptocurrency. The bill, New York Senate S6486D, has broad bi-partisan support from New York leaders, scientists, and the public, and is designed to act as a much needed moratorium in order to allow the state time to catch up on issues surrounding cryptocurrency technologies.
New York's Finger Lakes region is the canary in the crypto-mine for Governor Hochul. Will she signal willingness to lead on climate change by honoring New York's Climate Leadership and Community Protection Act and signing the bill? And further, will she move to deny active facilities a renewal of overdue and (twice) expired DEC title V air permits? New York is waiting, and watching.
The path forward couldn't be more obvious; particularly when you compare data on the economic and environmental impact of the Finger Lakes wine, grape and tourism industry to that of cryptocurrency mining. Let's take a look.
per year in direct economic impact in New York by the Finger Lakes wine, grape and tourism industry.
per year generated by cryptocurrency mining in the Finger Lakes region.
per year in state and local taxes by the Finger Lakes wine, grape and tourism industry.
per year in state tax and fees by cryptocurrency mining in the Finger Lakes region.
New Yorkers employed by the Finger Lakes wine, grape, and tourism industry.
people employed by the cryptocurrency mining industry in the Finger Lakes region.
Money earned producing wine largely flows into the Finger Lakes.
Most of the money made mining crypto doesn’t even enter the community.
1 unit = 33,000 tons
1 unit = 33,000 tons
Based on energy use per bottle of wine produced, the entire Finger Lakes wine and grape industry will generate around 33,000 metric tons CO2e in 2022.
Greenhouse gas emissions at the cryptocurrency mining facility on Seneca Lake are projected to be 520,386 metric tons CO2e for 2022, over 14 times more than the entire FLX wine industry.
uses the same amount of energy as
barrels of Finger Lakes wine.
Most of the energy that goes into producing wine in the Finger Lakes comes from renewable resources: hydro, solar, wind, sweat and hard work. An increasing number of agriculturalists in the Finger Lakes are committed to developing sustainable methods and fighting climate change.
Energy that goes into crypto mining comes from hydrofractured natural gas.