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On January 13, environmentalists filed a lawsuit against the New York City Community Service Commission (PSC) for taking over a bitcoin mining operation in the state.
The Public Service Commission (PSC), which oversees public utilities, has approved the conversion of the Fortistar North power plant into a cryptocurrency mining platform in September 2022, according to The Guardian.
The site would be purchased by Canadian cryptocurrency mining company Digihost and is located in Tonawanda, a city less than 10 miles from Niagara Falls.
The episode violates the New York State Climate Change Act of 2019, according to the lawsuit. Among other goals, the Community Protection and Climate Leadership Act (CLCPA) aims to generate zero-emission electricity by 2040 and reduce national emissions by 85% by 2050.
Earthjustice New York City is representing the Clean Air Coalition of the West and the Sierra Club in a lawsuit alleging the Fortistar plant was only used when there was a high demand for electricity, such as during inclement weather. However, the site will operate 24/7 as a cryptocurrency mining facility, emitting an additional 3,000% of greenhouse gases.
Activists say environmental studies are required by New York state when projects are considered.
In an October 2021 letter, a group of nearby businesses asked the state to refuse to turn the plant into a cryptocurrency mining site, based on the following:
If proof-of-work cryptocurrency mining becomes more common in New York, it will seriously undermine the climate goals outlined in the Climate Leadership and Community Protection Act. the computer necessary for its operation.
To reduce its environmental impact, Digihost planned to convert the plant to renewable natural gas, according to public records. The company also said the North Tonawanda Planning Commission, which conducts environmental assessments before making decisions, approved the deposit.
In an effort to reduce energy costs, Digihost also announced plans to move some of its mining capacity from New York to Alabama in August, according to Cointelegraph.
IMPT: impact project
A new cryptocurrency project in the environmental movement is noteworthy. The IMPT.io project, a blockchain-based carbon trading platform, aims to make it easier for people and businesses to offset their carbon footprint.
The accumulation of IMPT tokens, which can then be exchanged for non-slinging carbon credits, allows users to earn carbon credits (NFT). These NFT carbon credits can be burned to create new NFTs, sold on the IMPT market or with unique artworks owned by users.
But IMPT.io offers much more than trading carbon credits. The project aims to attract customers to "responsible shopping" with companies that value the environment. Users will be able to make purchases on the websites of more than 10,000 companies that have joined the IMPT.io project and receive IMPT tokens in exchange through an online widget.
Meanwhile, IMPT.io has an internal mechanism to encourage users, whether individuals or companies, to collect and burn carbon credit NFTs. An IMPT.io user's score increases every time they spend and earn IMPT tokens, invite new users to the platform, or buy and withdraw NFT NFT carbon credits. To increase sales, entrepreneurs can integrate the IMPT.io platform into their storefronts.
Investors wary of new cryptocurrency projects should note that IMPT.io's founding team has passed Hacken's rigorous security review and has Know Your Customer (KYC) validation by CoinSniper. Trusted companies like CoinSniper and Hacken have a reputation for only supporting reputable cryptocurrency projects.
Now go to IMPT
Launch IMPT on Gate.IO and BitMartExchange
The IMPT.io token was launched on December 28th on the BitMart cryptocurrency exchange, opening it up to new cryptocurrency traders and users. On BitMart, users can trade IMPT here.
Along with the $100,000 IMPT token, intending to generate a lot of hype, IMPT was also listed on the Gate.io marketplace on January 1st.
A few weeks ago, the first token exchange token offering was held on the cryptocurrency exchange LBANK. Users can redeem the token at LBANK.
Where will IMPT go in terms of pricing?
IMPT appears to be at a turning point, having recently formed a pennant that could lead to an upside or downside breakout. The cryptocurrency could rise quickly to test the recent highs of $0.02250 on a break above, while a bearish break below $0.012 could open the door for a quick pullback.
With promising information about IMPT's development progress coming soon, and the token being listed on multiple exchanges in the coming days, which could further increase demand, any drop to $0.012 could be seen with heavy buying demand.
What will IMPT.io do next?
According to a CEO update published a few weeks ago, IMPT.io will release 1 images of its first blockchain-based carbon trading platform and reveal more information ahead of the company's planned launch in February. Along with the latest acquisitions, IMPT.io will also be releasing a list of 500 Affiliate Brands this week. Finally, the IMPT token will be available on Changelly Pro cryptocurrency exchange later this week.
More pictures and information about the project will be revealed before the presentation in February, according to IMPT bulls. According to some reports, the cryptocurrency may soon surpass its post-ICO record in the $0.025 range.
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