Greenidge

Greenidge Generation is attempting to restructure millions of dollars in debt in exchange for cryptocurrency mining capacity at its facilities.

The new law stems from adverse reactions to a crypto-mining operation along Seneca Lake, in the heart of the state’s winemaking region.

Water intake and pollution permits for the controversial power plant and cryptocurrency mining facility expire at the end of September.

The DEC maintained its previous position that the facility did not comply with New York’s statutory climate goals.

Hochul said recently that she is still considering whether to sign the moratorium legislation. The DEC has set a deadline of June 30 to address Greenidge’s permits.

“I appreciate the ambition, but we want to see what the science says, what the facts say on the application and ultimately we'll make a determination on that and that alone."

Environmental activists call the move "political."

The New York senator acknowledged the effort to implement a moratorium on some cryptocurrency mining in New York.

A debate over cryptocurrency mining on Seneca Lake turned into a broader test of the state’s climate law. That test is likely to come to a head in 2022.

The move comes as the DEC is considering renewal of the air pollution permits for Greenidge Generation, a power plant and cryptocurrency mining operation in Yates County.