The bitcoin bros say mining is good for green energy. Are they right?
Jack Dorsey, Cathie Wood and Elon Musk agree with research that ‘debunks the myth’ that bitcoin mining is damaging the environment
22 April 2021 - 16:08
A trio of Jack Dorsey, Cathie Wood and Elon Musk are promoting the idea that bitcoin mining can be good for the planet. That’s not exactly true.
The basis of the idea is that mining cryptocurrencies uses a lot of power and can be deployed at any time. That could help a developer make money minting coins at a time when there’s lots of wind or sunshine and not much electricity demand. Making better use of wind and solar, where power generation can be intermittent, increases efficiency, lowers prices and helps encourage the green transition...
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