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Cryptocurrency Has a Huge Negative Impact on Climate Change

There s a lot of buzz these days about cryptocurrencies, a sort of private-sector digital version of money that s protected from theft by cryptography and counted through blockchain technology, which creates a multitude of digital ledgers on computers scattered far and wide. A bitcoin sculpture made from scrap metal is installed outside the BitCluster cryptocurrency mining farm in Norilsk, Russia, on Dec. 20, 2020. Norilsk now hosts the arctic s first crypto farm for producing new bitcoins. Andrey Rudakov/Bloomberg/Getty Images There s a lot of buzz these days about cryptocurrencies, a sort of private-sector digital version of money that s protected from theft by cryptography and counted through blockchain technology, which creates a multitude of digital ledgers on computers scattered far and wide.

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EV Start-Up Fisker Will Not Accept Or Invest in Bitcoin, CEO Says

Fisker said bitcoin is not sustainable, echoing environmental concerns raised last week by Tesla CEO Elon Musk due to concerns over the use of fossil fuels for bitcoin mining. I just don t think it s a sustainable solution, Fisker said Monday during CNBC s Closing Bell. It s not environmental-friendly and we would not do that. Bitcoin uses more energy than entire countries such as Sweden and Malaysia, according to the Cambridge Bitcoin Electricity Consumption Index. Fisker said such use doesn t align with the company s mission of creating the world s most sustainable vehicles. Fisker did not rule out the company ever accepting cryptocurrency. However, he said it s not a focus right now for the company.

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Take That, Elon: Banks Consume Much More Energy That Cryptocurrency Mining, Report Shows

Take That, Elon: Banks Consume Much More Energy That Cryptocurrency Mining, Report Shows
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Bitcoin Is Red Hot Can It Ever Be Green? - The Washington Post

Can you love Bitcoin and the environment at the same time? The digital currency depends on so-called miners whose high-powered computers run day and night, soaking up electricity to perform the calculations used to verify transactions. Since almost two-thirds of mining takes place in China, where coal is the biggest source of electricity, that means more emissions. Supporters argue that Bitcoin’s carbon output is a drop in the global bucket, and that a switch to pollution-free power sources is a

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Why everyone from Elon Musk to Janet Yellen is worried about bitcoin s energy usage

Why everyone from Elon Musk to Janet Yellen is worried about bitcoin s energy usage CNBC 3 hrs ago Ryan Browne Elon Musk said Tesla had halted purchases of vehicles with bitcoin due to concerns over the rapidly increasing use of fossil fuels for bitcoin mining. The cryptocurrency uses more energy than entire countries such as Sweden and Malaysia, according to researchers. Treasury Secretary Janet Yellen has also warned about bitcoin s environmental impact, saying it uses a staggering amount of power. Tesla suspends use of bitcoin as payment over environmental concerns Replay Video UP NEXT Elon Musk s decision to stop Tesla from accepting bitcoin as payment has led to fresh scrutiny of the cryptocurrency s environmental impact.

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