The idea of having bitcoin companies such as Lake Mariner and Digihost as new employers in Niagara County will provide only a few jobs at an enormous cost to our environment, both on a local and global level. The heat pollution produced by bitcoin is equivalent to the electricity used by Sweden and Malaysia and it will get worse if it continues to expand. Even China, the world’s largest polluter is cracking down on bitcoin because of environmental reasons.
Water is also used in large amounts to cool the batteries that provide energy to the computers that use inefficient algorithms to make the billions of calculations needed to make transactions for this virtual money. Because of this water treatment plants in North Tonawanda and Somerset will have to process the wastewater that will have chemicals leaking from these batteries that water treatment plants do not have the technology to remove. Also, our precious water from the Niagara River and Lake Ontario that provide a regional buffer against drought that is affecting large parts of the country will be compromised.