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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.
