Greenidge Scales Back Bitcoin Mining to Aid Grid During Cold Snap

Greenidge Generation, a former power plant turned Bitcoin mining operation, diverted over 90% of its energy output in Dresden, New York, to support local households and businesses during peak demand.

In a statement on Thursday, Greenidge said temperatures plummeted as a brutal cold snap gripped the Northeast last week, driving up electricity use and testing grid reliability.

Greenidge, which typically splits its power between Bitcoin mining and the grid, said it scaled back its 110-megawatt Dresden operation within minutes to prioritize public needs—a move mandated by a binding agreement with New York’s grid operator.

“Before the start of Greenidge’s approved crypto mining operations, the facility’s time from start-up to high-power generation for the grid was approximately 14 hours. Now, reaching high-power supply to the grid takes only minutes,” the company said.

“When extreme weather hits, every megawatt matters,” said Dale Irwin, Greenidge’s president. He emphasized that the plant’s dual-purpose design allows it to act as a “shock absorber” for the grid.

“Our grid is already stretched thin. Shutting down reliable sources like Greenidge would leave us vulnerable,” said Steve Griffin of the Finger Lakes Economic Development Center, echoing concerns that renewables alone can’t meet escalating demand.

Greenidge, a former coal plant converted to natural gas in 2017, has spent years battling New York regulators over its air permits. In 2022, the state’s Department of Environmental Conservation (DEC) denied renewal of its Title V air permit, citing conflicts with New York’s climate law.

Greenidge sued the DEC last year over the legitimacy of the agency’s administrative process. Its Bitcoin mining facility in New York remains operational after a court ruled in favor of its motion in November to overturn the DEC’s 2022 decision.