1897 New York hydropower plant diverted power to Bitcoin mining
- —The 5,250 kW Mechanicville plant on the Hudson River dates back to 1897
- —Operator Albany Engineering allocated part of its output to BTC mining in 2021
- —CEO Jim Besha Sr. said mining earned about three times more than grid sales
- —Mining was halted in 2022 as power prices made it unprofitable
Why it matters: The case shows mining competes directly with grid sales and hinges on power prices, not just the Bitcoin price.
Source: TokenPost