Bitcoin mines cash in on electricity — by devouring it, selling it, even turning it off — and they cause immense pollution. In many cases, the public pays a price - Gabriel J.X. Dance


image by: Katie Patrick

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Failing Crypto Could Be a Win for the Environment

Cryptocurrency is terrible for the environment...

In order to make money with crypto, “miners” use supercomputers to solve complex mathematical equations before their peers. If they win this algorithmic race, they can add a “block” to the network and are compensated with bitcoins. This is referred to as “blockchain mining,” and it is energetically costly, time-consuming, and only occasionally rewarding.

Crypto mining used to be possible with a home computer setup, but as it’s been corporatized, it now requires massive computers with cooling systems and motherboards. This takes enormous amounts of energy, typically procured from burning fossil fuels.

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 Failing Crypto Could Be a Win for the Environment

The uncertainty plaguing the crypto world is obviously devastating for investors and finance fanatics, but it could actually have a silver lining. Cryptocurrency is terrible for the environment. And a crypto crash could have a positive impact on greenhouse gas emissions and the future of digital currency.

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