Financial Insights That Matter
In early 2023, Digihost Technology, a Canadian crypto mining company, bought the Fortistar gas-fired power plant in North Tonawanda, NY, a town close to Niagara Falls, in order to use it to power Digihost’s Bitcoin computers (see Canadian Bitcoin Operator Completes Purchase of WNY Gas-Fired Plant). Big Green kicked up a fuss, with lawyers from Earthjustice, representing two other radical groups—the Sierra Club and Clean Air Coalition of Western New York—suing to block the sale (see Green Radicals Sue NYS for Approving Niagara Falls Bitcoin Plant). As of November, the matter is still playing out in court (see Court Rescinds Approval of WNY Gas-Fired Plant Sale to Bitcoin Co.). Meanwhile, Digihost continues to operate the plant. However, Digihost is planning to change the plant from using natural gas to using nuclear power.
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