Bitcoin mining—which has a massive carbon footprint—is facing more and more criticism for its negative effects on the environment. This activity happens to consume a staggering amount of energy. In reality, it consumes more electricity than most countries and is a major driver of carbon pollution.The Environmental Cost of BitcoinRecent...
The discussion around Bitcoin’s energy consumption has been one of the most consistent dog whistles used to rally strong opposition to cryptocurrency. This is one of the most serious criticisms against Bitcoin, echoed by many environmentalists. They even go so far as to liken it to the energy consumption of...
Paraguay, a landlocked country in the middle of South America, is quickly becoming an unlikely hub for Bitcoin mining. The transformation has the potential to leverage its unique energy landscape. In the meantime, a stormy political atmosphere is luring in firms such as Hive Digital Technologies. With its abundant hydroelectric...
Kuwait just recently adopted a hard-line stance against cryptocurrency mining. Thanks to their ban, energy use has plummeted across the board. This decision is a result of increasing concern about the stress on the national electric grid and risk of blackouts. In doing so, the agreement represents a watershed moment...
Kuwait’s Al-Wafrah region experienced a record 55 percent reduction in energy use. This steep fall came after a government-led campaign to shut down any and all illegal crypto mining facilities. This week, authorities raided the government’s estimated 100 homes housing illegal Bitcoin mining rigs. The findings, recently released in a...
We all love innovation, right? The allure of decentralized finance, innovative technology, and perhaps a pinch of that cryptocurrency gold rush excitement. What if that gold rush is doing it while creating a path of pollution, noise and economic burden behind it? Could the future of finance be emerging from...
Upstate New York is currently experiencing an escalating battle between cryptocurrency mining facilities that have settled in the region and vulnerable communities fighting for their environment and public health. Now companies like Greenidge Generation continue to rush into the region to exploit their dirt cheap electricity. They are facing withering...
You’re excited because you realize that New York has turned the corner, is moving full steam ahead to a cleaner, greener tomorrow. Think again. Beneath the surface of solar panels and wind farms, a dirty secret is quietly sabotaging our efforts: Bitcoin mining. And it’s happening right in our own...
Texas, the state known for its wide-open spaces and low-cost energy intended to lure factories and data centers, not data miners, has become a crypto mining mecca. Whether it’s attracting AI companies or some other tech hub of the future, state leaders like Gov. But behind the promises of innovation...
Here’s the hard truth Pennsylvania, we really have to have an honest conversation about crypto mining. Not the future-of-finance hype, but the down-and-dirty, ground-zero reality unfolding in our own back-yards. In particular, the puzzling and disappointing recent trend of pairing crypto mining with abandoned and soon-to-be-abandoned natural gas wells. It...
Bit Digital, Inc. just made a surprising and positive turn from Bitcoin mining. The company has since shifted its attention to Ethereum staking, pulling the industry’s eyes along with it. This development is part of a widening strategy of moves by the company to pivot its focus. It deepens and...
Bit Digital is betting the farm. They’re promoting the sale of these shovels in order to purchase the lottery tickets. They're ditching Bitcoin mining, the digital equivalent of the California gold rush, for Ethereum staking, which, let's be honest, sounds a lot less rugged and a lot more…regulated. Whether this...
Alright, let’s be real. When I first learned that Bit Digital was abandoning Bitcoin mining in favor of Ethereum staking, I have to admit my first response was dubious. A company that’s been foundational to the build out… suddenly bailing? It sounded crazy. The further I dug, the more apparent...
Bitcoin mining is the integral process that serves as the backbone of the Bitcoin network. It’s how new bitcoins are generated, and it’s how transactions are confirmed and added to the public blockchain. To those unfamiliar with the crypto space, the word “mining” may seem a bit scary. Learning the...
The buzz is building. Look out BTC, altcoin ETFs are on their way! The SEC seems to be getting a little more friendly towards it, especially with regards to Solana. We're seeing applications amended, deadlines looming, and even whispers of BlackRock jumping into the XRP game after the Ripple case...
Let's be blunt. The Bitcoin gold rush? It’s increasingly shaping up to be a fool’s errand come 2025. This really is more than a small blip in profitability. That is a dramatic and potentially catastrophic turn in the risk-reward equation. The shiny allure of digital gold is masking a growing...
Tired of the 9-to-5 grind? Tired of the idea that your wealth is in the hands of people you can’t even influence? Let me tell you a secret: Bitcoin mining might just be your escape hatch. I know, I know, this sounds like something only tech sorcerers can comprehend, but...
The air is just crackling with excitement, right? Or maybe that’s just the Crypto Summer 2.0 that you can almost taste on the horizon. Forget the lukewarm spring we just had. This is about to be a full-blown heatwave, fueled by something even more potent than Bitcoin: Altcoins. And what's...