New York’s First Bitcoin Power Plant Now Has The Green Light
New York's first bitcoin power plant is now fully operational, The New York Times reports. Located in upstate New York, the plant will supply electricity to a commercial building and several nearby homes.
The project is led by Paul Stecher, a serial entrepreneur who has been involved in the tech industry since the age of 18. In March 2018, he started an online petition seeking approval from the New York Public Service Commission for a proposal to build a 20 megawatt facility.
The facility will be managed by Stecher's company, Power Ledger Labs, which aims to use blockchain technology to create an energy marketplace where consumers can buy and sell their electricity with each other and with provider. The company says it hopes its first customers will be rooftop solar farms and commercial buildings looking to save money on their energy bills.
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