10/13/2023 0 Comments Green crypto coins“Natural gas is a bridge to the future and it’s an important part of the energy mix for New York State,” he said. Greenidge spokesman Michael McKeon said in an emailed statement the firm was doing all it could to address environmental concerns. Hardly anybody is using bitcoin,” he added. “At least other data centers are providing us with cloud computing used by billions every day. “As the price rises, bitcoin could consume as much energy as all the data centers in the world combined,” said Alex de Vries, founder of research platform Digiconomist, which publishes estimates of bitcoin’s climate impact. On Wednesday, Elon Musk, the chief executive of Tesla Inc, said his company would no longer accept bitcoin for car purchases, citing environmental concerns, in a swift reversal of its position on the currency after criticism by some investors. The showdown in New York - where a private equity firm turned a moth-balled coal power plant into one fired by natural gas that provides electricity to mine bitcoin onsite - is part of an increasingly fraught debate over the social benefits and environmental costs of the world’s most popular cryptocurrency.īitcoin consumes almost the same amount of electricity annually as Egypt did in 2019, according to an index compiled by the University of Cambridge. “Everything we want to do to fight climate change could be erased,” Yvonne Taylor, one of the march’s leaders, told the Thomson Reuters Foundation. Three days later, the planning board in the small town of Torrey voted 4-1 to allow Greenidge Generation to more than double the number of machines it has mining bitcoin. Their objection: that the creation of the cryptocurrency, an energy-intensive process in which computers compete to solve mathematical puzzles, may harm efforts to limit global warming. FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021.
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