FAQ?
What are the environmental consequences of crypto mining?
Bitcoin (BTC) and ether (ETH) have seen massive growth in price and users, but there are still doubts about the consequences of wide cryptocurrency adoption. In particular, many skeptics and environmentalists have raised concerns about the energy consumption of cryptocurrency mining, which may cause increased carbon emissions and climate change.
Are cryptocurrencies bad for the environment?
It's also worth noting that a large number of cryptocurrencies have negligible environmental consequences. In particular, proof-of-stake blockchains like EOS and Cardano do not have mining, allowing transactions to be processed with the same energy requirements as an ordinary computer network.
Which companies are building an open-source crypto mining business?
Mining companies such as Marathon Digital and Lancium have announced plans to link hundreds of thousands of rigs to solar and wind farms. The payments firm Block, which is led by Twitter co-founder Jack Dorsey, recently announced plans to build an open-source crypto mining business and has also funded renewable-based projects.
Is cryptocurrency mining energy intensive?
Many people are bullish about cryptocurrencies like Bitcoin, but detractors point to a major flaw—cryptocurrency mining is highly energy intensive. While mining is just one method available to validate cryptocurrency transactions and mint new crypto coins, it's the method used by Bitcoin and other leading cryptocurrencies.
