Nuclear recycling could be emerging technology in America

Coinmint Plattsburgh Dispute spotlights cryptocurrency mining, hydropower electricity rates, a $1M security deposit, Public Service Commission rulings, municipal utility policies, and seasonal migration to Massena data centers as Bitcoin price volatility pressures operations.

Key Points

Legal and energy-cost dispute over crypto mining, a $1,019,503 deposit, and operations in Plattsburgh and Massena.

✅ PSC allows higher rates and requires large security deposits.

✅ Winter electricity spikes drove a $1M deposit calculation.

✅ Coinmint shifted capacity to Massena data centers.

A few years ago, there was a lot of buzz about the North Country becoming the next Silicon Valley of cryptocurrency, even as Maine debated a 145-mile line that could reshape regional power flows. One of the companies to flock here was Coinmint. The cryptomining company set up shop in Plattsburgh in 2017 and declared its intentions to be a good citizen.

Today, Coinmint is fighting a legal battle to avoid paying the city’s electric utility more than $1 million owed for a security deposit. In addition to that dispute, a local property manager says the firm was evicted from one of its Plattsburgh locations.

Companies like Coinmint chose to come to the North Country because of the relatively low electricity prices here, thanks in large part to the hydropower dam on the St. Lawrence River in Massena, and regionally, projects such as the disputed electricity corridor have drawn attention to transmission costs and access. Coinmint operates its North Country Data Center facilities in Plattsburgh and Massena. In both locations, racks of computer servers perform complex calculations to generate cryptocurrency, such as bitcoin.

When cryptomining began to take off in Plattsburgh, the cost of one bitcoin was skyrocketing. That brought hype around the possibility of big business and job creation in the North Country. But cryptomininers like Coinmint were using massive amounts of energy in the winter of 2017-2018, and that season, electric bills of everyday Plattsburgh residents spiked.

Many cryptomining firms operate in a state of flux, beholden to the price of Bitcoin and other cryptocurrencies, even as the end to the 'war on coal' declaration did little to change utilities' choices. When the price of one bitcoin hit $20,000 in 2017, it fell by 30% just days later. That’s one reason why the price of electricity is so critical for companies like Coinmint to turn a profit. 

Plattsburgh puts the brakes on “cryptocurrency mining”
In early 2018, Plattsburgh passed a moratorium on cryptocurrency mining operations, after residents complained of higher-than-usual electric bills.

“Your electric bill’s $100, then it’s at $130. Why? It’s because these guys that are mining the bitcoins are riding into town, taking advantage of a situation,” said resident Andrew Golt during a 2018 public hearing.

Coinmint aimed to assuage the worries of residents and other businesses. “At the end of the day we want to be a good citizen in whatever communities we’re in,” Coinmint spokesman Kyle Carlton told NCPR at that 2018 meeting.

“We’re open to working with those communities to figure out whatever solutions are going to work.”

The ban was lifted in Feb. 2019. However, since it didn’t apply to companies that were already mining cryptocurrency in Plattsburgh, Coinmint has operated in the city all along.

Coinmint challenges attempt to protect ratepayers
New rules passed by the New York Public Service Commission in March 2018 allow municipal power authorities including Plattsburgh’s to charge big energy users such as Coinmint higher electricity rates, amid customer backlash in other utility deals. The new rules also require them to put down a security deposit to ensure their bills get paid.

But Coinmint disputes that deposit charge. The company has been embroiled in a legal fight for nearly a year against Plattsburgh Municipal Lighting Department (PMLD) in an attempt to avoid paying the electric utility’s security deposit bill of $1,019,503. That bill is based on an estimate of what would cover two months of electricity use if a company were to leave town without paying its electric bills.

Coinmint would not discuss the dispute on the record with NCPR. Legal documents show the firm argues the deposit charge is inflated, based on a flawed calculation resulting in a charge hundreds of thousands of dollars higher than what it should be.

“Essentially they’re arguing that they should only have to put up some average of their monthly bills without accounting for the fact that winter bills are significantly higher than the average,” said Ken Podolny, an attorney representing the Plattsburgh utility.

The company took legal action in February 2019 against PMLD in the hopes New York’s energy regulator, the Public Service Commission, would agree with Coinmint that the deposit charge was too high. An informal commission hearing officer disagreed, and ruled in October the charge was calculated correctly.

Coinmint appealed the ruling in November and a hearing on the appeal could come as soon as February.

Less than a week after Coinmint lost its initial challenge of the deposit charge, the company made a splashy announcement trumpeting its plans to “migrate its Plattsburgh, New York infrastructure to its Massena, New York location for the 2019-2020 winter season.”

The announcement made no mention of the appeal or the recent ruling against Coinmint. The company attributed its new plan to “exceptionally-high” electricity rates in Plattsburgh, as hydropower transmission projects elsewhere in New England faced their own controversies. 

"We recognize some in the Plattsburgh community have blamed our operation for pushing rates higher for everyone so, while we disagree with that assessment, we hope this seasonal migration will have a positive impact on rates for all our neighbors,” said Coinmint cofounder Prieur Leary in the press statement.

“In the event that doesn't happen, we trust the community will look for the real answers for these high costs." Prieur Leary has since been removed from the corporate team page on the company’s website.

The company still operates in Plattsburgh at one of its locations in the city. As for staff, while at least two Coinmint employees have moved from Plattsburgh to Massena, where the company operates a data center inside a former Alcoa aluminum plant, it is unclear how many people in total have made the move.

Coinmint left its second Plattsburgh location in 2019. The company would not discuss that move on the record, yet the circumstances of the departure are murky.

The local property manager of the industrial park site told NCPR, “I have no comment on our evicted tenant Coinmint.” The property owner, California’s Karex Property Management Services, also would not comment regarding the situation, noting that “all staff have been told to not discuss anything regarding our past tenant Coinmint.”

Today, Bitcoin and other cryptocurrencies are worth a fraction of what they were back in 2017 when Coinmint came to the North Country, and now, amid a debate over Bitcoin's electricity use shaping market sentiment, the future of the entire industry here remains uncertain.

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bGen Thermal Energy Storage stores high-temperature heat in crushed rocks, enabling on-demand steam, hot water, or hot air; integrates renewables, shifts load with off-peak electricity, and decarbonizes campus heating at SUNY Purchase with NYPA.

Key Points

A rock-based TES system storing heat to deliver steam, hot water, or hot air using renewables or off-peak power.

✅ Uses crushed rocks to store high-temperature heat

✅ Cuts about 550 metric tons CO2 annually at SUNY Purchase

✅ Integrates renewables and off-peak electricity with NYPA

Brenmiller Energy Ltd. (NASDAQ: BNRG), in collaboration with the New York Power Authority (NYPA), a utility pursuing grid software modernization to improve reliability, has successfully deployed its first bGen™ thermal energy storage (TES) system in the United States at the State University of New York (SUNY) Purchase College. This milestone project, valued at $2.5 million, underscores the growing role of TES in advancing sustainable energy solutions.

Innovative TES Technology

The bGen™ system utilizes crushed rocks to store high-temperature heat, which can be harnessed to generate steam, hot air, or hot water on demand. This approach allows for the efficient use of excess renewable energy or off-peak electricity, and parallels microreactor storage advances that broaden thermal options, providing a reliable and cost-effective means of meeting heating needs. At SUNY Purchase College, the bGen™ system is designed to supply nearly 100% of the heating requirements for the Physical Education Building.

Environmental Impact

The implementation of the bGen™ system is expected to eliminate approximately 550 metric tons of greenhouse gas emissions annually. This reduction aligns with New York State's ambitious climate goals, including a 40% reduction in greenhouse gas emissions by 2030, even as transmission constraints can limit cross-border imports. The project also demonstrates the potential of TES to support the state's transition to a cleaner and more resilient energy system.

Collaborative Effort

The successful deployment of the bGen™ system at SUNY Purchase College is the result of a collaborative effort between Brenmiller Energy and NYPA. The project was partially funded by a grant from the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation. This partnership highlights the importance of international cooperation in advancing innovative energy technologies, as seen in OPG-TVA nuclear collaboration efforts across North America.

Future Prospects

The successful installation and operation of the bGen™ system at SUNY Purchase College serve as a model for broader adoption of TES technology in institutional settings, as OPG's SMR commitment signals parallel low-carbon investment across the region. Brenmiller Energy and NYPA plan to share the project's findings through a webinar hosted by the Renewable Thermal Collaborative on May 19, 2025. This initiative aims to promote the scalability and replicability of TES solutions across New York State and beyond.

As the demand for sustainable energy solutions continues to grow, the successful deployment of the bGen™ system at SUNY Purchase College marks a significant step forward in the integration of TES technology into the U.S. energy landscape, while projects like Pickering B refurbishment underscore parallel clean power investments. The project not only demonstrates the feasibility of TES but also sets a precedent for future initiatives aimed at reducing carbon emissions and enhancing energy efficiency.

Brenmiller Energy's commitment to innovation and sustainability positions the company as a key player in the evolving energy sector. With continued support from partners like NYPA and the BIRD Foundation, and as jurisdictions advance first SMR deployments in North America, Brenmiller Energy is poised to expand the reach of its TES solutions, contributing to a more sustainable and resilient energy future.

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Maritime Link Subsea Cable enables HVDC grid interconnection across the Cabot Strait, linking Nova Scotia with Newfoundland and Labrador to import Muskrat Falls hydroelectric power and expand renewable energy integration and reliability.

Key Points

A 170-km HVDC subsea link connecting Nova Scotia and Newfoundland and Labrador for Muskrat Falls power and renewables

✅ 170-km HVDC subsea route across Cabot Strait

✅ Connects Nova Scotia and Newfoundland and Labrador grids

✅ Enables Muskrat Falls hydro and renewable energy trade

The longest sub-sea electricity cable in North America now connects Nova Scotia and Newfoundland and Labrador, according to the company behind the $1.7-billion Maritime Link project.  

The first of the project's two high-voltage power transmission cables was anchored at Point Aconi, N.S., on Sunday. 

The 170-kilometre long cable across the Cabot Strait will connect the power grids in the two provinces. The link will allow power to flow between the two provinces, as demonstrated by its first electricity transfer milestone, and bring to Nova Scotia electricity generated by the massive Muskrat Falls hydroelectric project in Labrador. 

Ultimately, the Maritime Link will help Nova Scotia reach the renewable energy goals set out by the federal government, said Rick Janega, the president and CEO of Emera Newfoundland and Labrador, whose subsidiary owns the Maritime Link.

"If not for the Maritime Link then really the province would not have the ability to meet those requirements because we're pretty much tapped out of all the hydro in province and all the wind generation without creating new interconnections like the Maritime Link," said Janega. 

Not everyone wanted the link 

Fishermen in Cape Breton had objected to the Maritime Link. They were concerned about how the undersea cable might affect fish in the area. 

The laying of the cable and other construction closed a three-kilometre long and 600-metre wide swath of ocean bottom to fishermen for the entire 2017 lobster season.  

But the company came to an agreement to compensate a group of 60 Cape Breton lobster and crab fishermen affected by the project this season. The terms of the compensation deal were not released. 

Long cable, big job

The transmission cable runs northwest of the Marine Atlantic ferry route between North Sydney, N.S., and Port aux Basques, N.L. 

Installation of the second cable is set to begin in June, a major step comparable to BC Hydro's Site C transmission milestone achieved recently. The entire link should be completed by late 2017 and should go into full service by January 2018.

"We're quite confident as soon as the Maritime Link is in service there will be energy transactions between Nova Scotia Power and Newfoundland Hydro. Both utilities have already identified opportunities to save money and exchange energy between the two provinces," said Janega.

That's two years before power is expected to flow from the Muskrat Falls hydro project. The Labrador-based power generating facility has been hampered by delays.

Those kinds of transmission project delays are expected for such a large project, said Janega, and won't stop the Maritime Link from being used. 

"With the Maritime Link going in service this year providing Nova Scotia the opportunity that it needs to be able to reach carbon reductions and to adapt to climate change and to increase renewable energy content and we're very pleased to be at this state today," said Janega.

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California Rooftop Solar Rate Reforms propose shifting net metering to fixed access fees, peak-demand charges, and time-of-use pricing, aligning grid costs, distributed generation incentives, and retail rates for efficient, least-cost electricity and fair cost recovery.

Key Points

Policies replacing net metering with fixed fees, demand charges, and time-of-use rates to align costs and incentives.

✅ Large fixed access charge funds grid infrastructure

✅ Peak-demand pricing reflects capacity costs at system peak

✅ Time-varying rates align marginal costs and emissions

The California Public Service Commission has proposed revamping electricity rates for residential customers who produce electricity through their rooftop solar panels. In a recent New York Times op‐​ed, former Governor Arnold Schwarzenegger argued the changes pose an existential threat to residential rooftop solar. Interest groups favoring rooftop solar portray the current pricing system, often called net metering, in populist terms: “Net metering is the one opportunity for the little guy to get relief, and they want to put the kibosh on it.” And conventional news coverage suggests that because rooftop solar is an obvious good development and nefarious interests, incumbent utilities and their unionized employees, support the reform, well‐​meaning people should oppose it. A more thoughtful analysis would inquire about the characteristics and prices of a system that supplies electricity at least cost.

Currently, under net metering customers are billed for their net electricity use plus a minimum fixed charge each month. When their consumption exceeds their home production, they are billed for their net use from the electricity distribution system (the grid) at retail rates. When their production exceeds their consumption and the excess is supplied to the grid, residential consumers also are reimbursed at retail rates. During a billing period, if a consumer’s production equaled their consumption their electric bill would only be the monthly fixed charge.

Net metering would be fine if all the fixed costs of the electric distribution and transmission systems were included in the fixed monthly charge, but they are not. Between 66 and 77 percent of the expenses of California private utilities do not change when a customer increases or decreases consumption, but those expenses are recovered largely through charges per kWh of use rather than a large monthly fixed charge. Said differently, for every kWh that a PG&E solar household exported into the grid in 2019, it saved more than 26 cents, on average, while the utility’s costs only declined by about 8 cents or less including an estimate of the pollution costs of the system’s fossil fuel generators. The 18‐​cent difference pays for costs that don’t change with variation in a household’s consumptions, like much of the transmission and distribution system, energy efficiency programs, subsidies for low‐​income customers, and other fixed costs. Rooftop solar is so popular in California because its installation under a net metering system avoids the 18 cents, creating a solar cost shift onto non-solar customers. Rooftop solar is not the answer to all our environmental needs. It is simply a form of arbitrage around paying for the grid’s fixed costs.

What should electricity tariffs look like? This article in Regulation argues that efficient charges for electricity would consist of three components: a large fixed charge for the distribution and transmission lines, meter reading, vegetation trimming, etc.; a peak‐​demand charge related to your demand when the system’s peak demand occurs to pay for fixed capacity costs associated with peak use; and a charge for electricity use that reflects the time‐ and location‐​varying cost of additional electricity supply.

Actual utility tariffs do not reflect this ideal because of political concerns about the effects of large fixed monthly charges on low‐​income customers and the optics of explaining to customers that they must pay 50 or 60 dollars a month for access even if their use is zero. Instead, the current pricing system “taxes” electricity use to pay for fixed costs. And solar net metering is simply a way to avoid the tax. The proposed California rate reforms would explicitly impose a fixed monthly charge on rooftop solar systems that are also connected to the grid, a change that could bring major changes to your electric bill statewide, and would thus end the fixed‐​cost avoidance. Any distributional concerns that arise because of the effect of much larger fixed charges on lower‐​income customers could be managed through explicit tax deductions that are proportional to income.

The current rooftop solar subsidies in California also should end because they have perverse incentive effects on fossil fuel generators, even as the state exports its energy policies to neighbors. Solar output has increased so much in California that when it ends with every sunset, natural gas generated electricity has to increase very rapidly. But the natural gas generators whose output can be increased rapidly have more pollution and higher marginal costs than those natural gas plants (so called combined cycle plants) whose output is steadier. The rapid increase in California solar capacity has had the perverse effect of changing the composition of natural gas generators toward more costly and polluting units.

The reforms would not end the role of solar power. They would just shift production from high‐​cost rooftop to lower‐​cost centralized solar production, a transition cited in analyses of why electricity prices are soaring in California, whose average costs are comparable with electricity production in natural gas generators. And they would end the excessive subsidies to solar that have negatively altered the composition of natural gas generators.

Getting prices right does not generate citizen interest as much as the misguided notion that rooftop solar will save the world, and recent efforts to overturn income-based utility charges show how politicized the debate remains. But getting prices right would allow the decentralized choices of consumers and investors to achieve their goals at least cost.

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Canada 2035 Clean Electricity Target faces a 48.4GW shortfall as renewable capacity lags; accelerating wind, solar PV, grid upgrades, and coherent federal-provincial policy is vital to reach zero-emissions power and strengthen transmission and distribution.

Key Points

Canada's plan to supply nearly 100% of electricity from zero-emitting sources by 2035, requiring renewable buildout.

✅ Average adds 2.6GW; shortfall totals 48.4GW by 2035

✅ Expand wind, solar PV, storage, and grid modernization

✅ Align federal-province policy; retire or convert thermal plants

GlobalData’s latest report, ‘Canada Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution and Technology, Regulations, Key Players and Forecast, 2022-2035’, discusses the power market structure of Canada and, amid looming power challenges, provides historical and forecast numbers for capacity, generation and consumption up to 2035. Detailed analysis of the country’s power market regulatory structure, competitive landscape and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential. An analysis of the deals in the country’s power sector is also included in the report.

Canada is expected to fall short of its 2035 clean electricity target after reviewing the country’s current renewable capacity activity. The country has targeted to produce nearly 100% of its electricity from zero-emitting sources by 2035, while electricity associations' net-zero goals extend to 2050; however, the country is adding only 2.6GW of annual renewable capacity additions on average every year, which would mean a cumulative shortfall of 48.4GW.

Canada has good governmental support, but it is not doing enough to ensure its targets are met. If the country is to meet its target to produce nearly 100% of electricity from zero-emitting sources by 2035, the country should both increase the capacity and efficiency of renewable power plants, as well as provide comprehensive end-to-end policies at both the federal and provincial levels, as debates over whether Ontario is embracing clean power continue across provinces. It should also involve communities and businesses in raising awareness of the benefits of adopting renewable energy.

The country has a large amount of proven natural gas and oil reserves that are proving too tempting an opportunity, and the Canadian Government is planning to increase the capacity of its gas-based plants under net-zero regulations permit some gas in the power mix, to secure real-time demand and supply. However, the country’s dependency on gas-based plants creates a major challenge to achieve its 2035 clean electricity target.

If the Canadian Government is to meet its 2035 targets, it should draw on examples from its European counterparts and add renewable capacity at a rapid pace, while balancing demand and emissions in key provinces. One advantage for Canada here is that it does not have land constraints, which is common in other major renewable power-generating countries. This could give the country an estimated 6.1GW of renewable capacity every year on average during the 2021-2035 period: enough capacity to meet its target. Most of these installations are expected to be for wind and solar PV.

Changing provincial governments are not helpful when it comes to implementing long-term projects, especially as Ontario faces looming electricity shortfalls that heighten planning risks, and continued stopping and starting of projects like this will only be damaging to renewable goals. Another way the country can achieve its target is by converting thermal power plants into clean energy plants and providing a roadmap or timeline for provinces to retire thermal power plants completely, even as scrapping coal can be costly for some systems.

Canada’s GDP (at constant prices) increased from $1,617.3bn in 2010 to $1,924.5bn in 2021, at a CAGR of 1.6%. The GDP (at constant prices) of the country declined sharply from $1,943.8bn in 2019 to $1,840.5bn in 2020 because of Covid-19 pandemic. After the recommencement of regular industrial and trade activities, the GDP grew by 4.6% in 2021 from 2020. The GDP is expected to cross pre-pandemic levels by the end of 2022.

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EU Renewable Energy Shift is cutting gas dependence as wind and solar expand, reshaping Europe's power mix, curbing emissions, and pressuring coal use amid a supply crisis and rising natural gas prices.

Key Points

An EU trend where wind and solar growth reduce gas reliance, curb coal, and lower power-sector emissions.

✅ Wind and solar displace gas in EU power mix

✅ Coal use rises as gas prices surge

✅ Emissions fall, but not fast enough for 1.5 C target

The European Union’s renewable energy sources are helping reduce its dependence on natural gas, under the current European electricity pricing framework, that’s still costing the region dearly.

Renewables growth has helped reduce the EU’s dependence on gas, as wind and solar outpaced gas across the bloc last year, which has soared in price since the middle of last year as the region grapples with a supply crisis that’s dealt blows to industries as well as ordinary consumers’ pockets. More than half of new renewable generation since 2019 has replaced gas power, according to a study by London-based climate think tank Ember, with the rest replacing mainly nuclear and coal sources.

“These are moments and paradigm shifts when governments and businesses start taking this much more seriously,” said Charles Moore, the lead author on the study, amid Covid-19 responses accelerating the transition across Europe. “The alternatives are available, they are cheaper, and they are likely to get even cheaper and more competitive. Renewables are now an opportunity, not a cost.”

The high price of gas relative to coal has meant utilities are leaning more on coal as a back-up for renewable generation, as stunted hydro and nuclear output has constrained low-carbon alternatives in parts of Europe, which risks the trajectory of Europe’s phase-out of the dirtiest fossil fuel. Last year, the EU’s coal use jumped disproportionately high relative to the rise in power generation as high gas prices boosted the relative profitability of burning coal instead.

Europe Coal Use Jumps as Costly Gas Turns Firms to Dirty Fuel
EU power generation from renewables reached a record high in 2021 of 547 terawatt-hours last year, accounting for an 11% increase compared to two years before, according to Ember’s Europe Electricity Review. It’s more than doubled in a decade, representing a 157% increase since 2011. 

Gas use declined last year for the second year in a row, as Europe explores storing electricity in gas pipelines to leverage existing infrastructure, reaching a level 8.1% lower than 2019. By contrast, coal use fell just 3.3% in the same period. Put simply, wind and solar did a great job of replacing coal during 2011-2019 but since then renewables have mostly been nudging out gas-fired power stations.

Ember’s Moore warned that the slowing phase-out of coal might require legislation to accelerate. The International Energy Agency recommends OECD countries cease using coal by the end of the decade to ensure alignment with the Paris Agreement target of keeping the world’s temperature increase below 1.5 Celsius, with renewables poised to eclipse coal globally by the mid-2020s lending momentum. 

“Europe can accelerate the phasing out of coal by building more renewable energy and faster,” said Felicia Aminoff,  an energy-transition analyst at BloombergNEF. “Wind and solar have no fuel costs, so as soon as you have made the initial investments to build wind and solar capacity it will start replacing generation that uses any kind of fuel, whether it is coal or gas.”

Overall, EU power sector emissions fell at less than half the rate required to hit that target, Ember’s report said. Spain produced the largest emissions reduction in the last two years, with renewables adding about 25 TWh and gas falling 15 TWh, and in Germany renewables topped coal and nuclear for the first time to support the shift. In contrast, heavy use of coal dragged down the bloc’s climate progress in Poland, where coal use rose about 8 TWh and renewables gained only 4 TWh.

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