Chris Helman of Forbes writes on the profitability of clean cryptocurrency mining.
- Cryptocurrency has drawn the ire of some environmentalists for its energy-intensive mining processes.
- While its environmental impact is currently big, cryptocurrency can have positive impacts on our climate.
- Entrepreneurs are lowering crypto’s environmental footprint by creating mining centers that run on clean energy.
- Free markets, not government mandates, are creating a cleaner environment.
“For all bitcoin’s purported benefits, it’s also clear that the currency is an environmental disaster. Depending on bitcoin’s cost (a higher price attracts more miners), its global network sucks up between 8 and 15 gigawatts of continuous power, according to Cambridge. New York City runs on just 6 gigawatts, the nation of Belgium on 10.”
Read the full article here.