Bitcoin mining — What are the true climate change risks? Samuel Wan · 3 days ago · 4 min read
Bitcoin mining is coming under increasing fire for ecological reasons, however, data shows its environmental impact is less than that of the gold and banking sectors.
4 min read
Updated: July 29, 2022 at 7:25 pm
Cover art/illustration via CryptoSlate
The European Central Bank (ECB) published a report on July 14 that covered many points related to Bitcoin and Ethereum mining, including energy consumption and Proof-of-Stake (PoS) as an alternative mechanism.
The report, titled “Mining the environment – is climate risk priced into crypto-assets?,” determined that Proof-of-Work (PoW) mining cannot co-exist with “the green transition” and even hinted at an EU-wide ban by 2025.
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