Stronghold Digital Marketing, a crypto mining company, has announced that it will raise more than $100 million to fund its green Bitcoin mining initiatives.

The company, which is based in Pennsylvania, said that its Scrubgrass Generation Plant in Venango County can convert waste coal into energy equivalent to what a large-scale hydro plant can produce.

One fascinating fact about its recycling operations is that the old coals it recycles date back to the 19th and 20th centuries.

Because of the crypto mining’s green initiative, its recycling efforts have rehabilitated large areas of land that were extremely affected by the acid coming from waste coals.

Doing good for the environment

The unrecycled waste coals produce an acid that mixes to the rain or snow, which results in the contamination of marine life and on water systems used by people.

Bill Spence, co-chairman of Stronghold Digital, said: “We employ 21st-century mining techniques to remediate the impacts of 19th and 20th-century coal mining.”

According to Stronghold, the areas where tons of used coals were removed, are planned to be donated to the community.

Stronghold Digital estimates that 200 tons of waste coals are being eliminated for every bitcoin it mines, which makes this green initiative good for the environment and for its business.

Timely initiative

Stronghold Digital’s large-scale green effort is a timely initiative in a time where crypto mining companies are being criticized for their excessive use of energy just to mine cryptocurrencies.

The public’s growing concern about the impacts of these activities has forced crypto-related companies to streamline their operations towards greener methods of mining.

Image courtesy of Cointelegraph News/YouTube

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Source: https://bitcoinerx.com/blockchain/u-s-crypto-miner-makes-a-green-move-by-recycling-waste-coal-for-mining/