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Major Bitcoin Mining Region in China Sets Tough Penalties for Cryptocurrency Activities
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BoC digital currency would be greener than Bitcoin, deputy says
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Bank of Canada digital currency would be greener than Bitcoin, deputy says
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Bank of Canada digital currency would be greener than Bitcoin, deputy says
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Coinbase Addresses Misconceptions and Myths about Bitcoin (BTC) Mining, Environmental Issues
May 25, 2021 @ 6:13 pm By Omar Faridi
As Bitcoin (BTC) has become increasingly popular, questions regarding how it actually works have arisen among investors and the general public.
One of the most pressing questions is regarding the potential environmental impact of cryptocurrency mining, which is the process the blockchain or distributed ledger technology (DLT)-based network uses to generate new Bitcoins and verify transactions.
Digital asset firm
Coinbase clarifies that Bitcoin mining is an “energy-intensive” process. There’s no argument or valid debate regarding that, the exchange acknowledges while noting that as crypto prices surge, new miners are incentivized to take part, which in turn leads to greater energy consumption (at least until the next BTC halving, when the amount of new coins being issued will be reduced by 50%).