Greenidge Generation Holdings Inc. reported that more than 90% of the power produced at its Dresden facility was directed to the local power grid during last week’s intense cold snap. The energy helped stabilize the grid and prevent electricity prices from surging amid high demand.
Greenidge President Dale Irwin emphasized the importance of the company’s ability to increase power output on short notice. “Every minute we produce power, we’re sending power to the grid,” Irwin said, adding that the facility’s swift response is vital during emergencies. He noted criticism from advocacy groups calling for the plant’s closure but stressed the company’s commitment to maintaining system reliability.
The Dresden plant’s agreement with the New York Independent System Operator (NYISO) requires continuous power transmission to the grid. Its capacity to redirect power from its cryptocurrency operations back to the grid in mere minutes has been instrumental in reducing grid strain. Before implementing its cryptocurrency mining operations, achieving full-power generation took up to 14 hours.
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Steve Griffin, CEO of the Finger Lakes Economic Development Center, echoed the need for Greenidge’s operations, citing a growing energy shortfall. “There is not enough power to meet demand, and relying entirely on renewable energy is not feasible,” Griffin said.
Yates County Legislature Chair Leslie Church reinforced the economic and infrastructural importance of the facility. “We need this facility to continue to operate,” Church stated, adding that Greenidge provides well-paying jobs and contributes to local grid stability during severe weather events.
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