Burn

Bitcoin

<a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/">Stronghold</a> Digital Mining, based in Pennsylvania, has applied to use shredded tires for up to 15% of its energy needs. The company filed the application with the Pennsylvania Department of Environmental Protection in July. The public only learned of it in late August. <a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/">Stronghold</a> cites EPA approval for the use of tire-derived fuel (TDF) in other state facilities as a basis for its request. 
TDF has been legal since 1991 and is used in four plants in Pennsylvania. However, environmental activists are gearing up to challenge the application. Russell Zerbo of the Clean Air Council argues that because the Panther Creek plant uses the electricity for crypto mining and not for the grid, it should be re-permitted as a waste incinerator. This would require more stringent air pollution monitoring. 
Charles McPhedran, an attorney with Earthjustice, notes that emissions of sulfur dioxide and nitrogen oxide spiked after <a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/">Stronghold</a> took over the plant in 2021. He points out that the company has been using coal from Pennsylvania's large waste coal supplies. According to estimates, the state still has around two billion cubic yards of waste coal polluting the environment. 
On the financial front, <a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/">Stronghold</a> has been thriving. It reported mining 626 Bitcoin in Q2 of 2023, a 43% increase from Q4 2022. The company made $18.2 million in revenue but also reported a net loss of $11.7 million. 
As the debate over the environmental impact of crypto mining intensifies, <a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/">Stronghold</a>'s application could be a tipping point. The company’s move has broader implications, as it brings the focus onto the environmental responsibilities of crypto <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/">mining companies</a>. Given the rise in scrutiny on Bitcoin’s energy use, this application might not only affect <a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/">Stronghold</a> but set a precedent for the industry. 
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Crypto Miner Stronghold Seeks to Burn Tires for Energy, Sparking Environmental Concerns

Ultramining_Eng

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