Vulcan Tries AI Pivot Despite NY Data Center Freeze
Finger Lakes bitcoin miner Greenidge Generation is rebranding as Vulcan Infrastructure and Power and seeking to convert its operation into an AI data center campus, raising nearly $40 million for the attempt.
The company's existing power plant on Seneca Lake has a capacity of 107 megawatts, but it is requesting an additional 200 megawatts from the state grid.
This pivot comes at an awkward time as New York Governor Kathy Hochul recently signed an executive order halting permits for large-scale data centers while the state studies their environmental and grid impacts.
Critics argue that simply swapping bitcoin servers for AI racks will not be enough to erase years of political baggage, including emissions and pollution concerns related to the existing power plant.