May 24, 2024



Historic Power Plant Decides Mining Bitcoin Is More Profitable Than Selling Electricity


July 9, 2021

A hydroelectric plant built in 1897 is serving a very different function now. The Albany Times Union reported that the Mechanicville, NY plant operated by Albany Engineering Corp. is currently mining Bitcoin with some of the power it produces.


“We think this is the oldest renewable energy facility in the world that’s still running,” Albany Engineering Corp. CEO Jim Besha told the Albany Times Union. He also said the plant “can actually make more money with bitcoin than selling the electricity to National Grid,” though, which is why he’s taken to mining the cryptocurrency.

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