Blog
Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency?
Company News
May 11, 2022
From Advisory Board Member Dr. Julia Nesheiwat
Bitcoin has earned the moniker “The King of Cryptocurrencies” and become a model for other cryptocurrencies seeking competition with fiat money. To strengthen its long-term position, Bitcoin will need to address critics who claim the process of bitcoin mining can be too energy intensive. A critical inflection point was recently passed in Q4 2021, when renewable energy provided more than half of Bitcoin mining’s global power requirements. Indeed, the pivot toward cleaner and cheaper energy sources could very well define the future success of the cryptocurrency movement.
Videos
Are AI Demand Fears Overblown? TeraWulf's CEO Answers
Do AI data centers really drink the town dry? Not according TeraWulf (WULF) CEO Paul Prager. He says the majority now run on closed-loop systems that require one fill, then no more water for roughly ten years. In this episode of The Upside, Lou Basenese and the CEO tackle all the data center debate issues head on: water, power, noise, and why more regulations, not less are best. Then they get into WULF's business itself, including the $19 billion Anthropic lease in Kentucky, six bidders fighting over a single new site, why Prager won't buy one GPU, and why he thinks a real fallout in the space is roughly 12 months out.
