Overview
- State regulators approved a five-year Title V air permit for Greenidge’s natural-gas facility in Dresden, New York, which powers Bitcoin mining.
- The agreement requires a 44% reduction in permitted greenhouse-gas emissions—about 282,000 tons of CO2—by 2030 to align with New York’s climate law.
- The settlement ends litigation that followed the state’s 2022 refusal to renew the plant’s air permit.
- Greenidge’s Nasdaq-listed shares jumped on the news, with reports citing gains from roughly 30% to more than 75% from Friday’s close into Monday trading.
- Environmental groups, including Seneca Lake Guardian, vowed to challenge the decision in court, while a local IBEW union praised the outcome for protecting jobs.