mining
01/15/2018
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By Ethan Huff
Cryptocurrency is now breaking the power grid of a U.S. county as electrical consumption for Bitcoin mining reaches “insane” territory
The amount of electricity required to mine and transact Bitcoin is now so high that a small county in Washington state is having to kick production into overdrive. According to reports, Douglas County, located in almost the dead-center of the state, has some of the cheapest electricity rates in the country, and this has created heavy […]
12/04/2017
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By Ethan Huff
Bitcoin now consuming more electricity than 12 U.S. states as inefficient “mining” heads for collapse
You might not be able to see or touch it because it isn’t actually made up of real physical matter, but the digital cryptocurrency Bitcoin is still having an enormously tangible impact on the world – and no, we’re not talking about the way that it’s changing the financial landscape, in this case. According to […]
11/30/2017
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By Frances Bloomfield
How green is the technology that makes your green energy? Researchers are working to develop sustainable ways to source the raw materials
The growing demand for green technologies such as electric vehicles and wind turbines has called for a heavy price. The need for rare earth minerals in their production processes is all but causing great harm to the environment and placing unnecessary pressure upon poor communities. Yet a team of researchers from the Camborne School of […]
11/30/2017
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By Ethan Huff
Bitcoin is powered by COAL: Massive electricity usage to mine Bitcoins runs mostly on coal and pollutes the world with mercury and smog
Because they exist fictitiously somewhere out there in cyberspace, digital cryptocurrencies like Bitcoin might seem like more eco-friendly alternatives to traditional cash. But the latest data shows that not only does “mining” Bitcoin consume unprecedented amounts of energy, but the bulk of this energy comes from coal: A highly-polluting substance that, when burned, releases mercury […]
11/29/2017
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By Ethan Huff
Bitcoin on track to consume the ENTIRE global electricity supply by the year 2020
As the online cryptocurrency known as Bitcoin reaches record price highs, many people are now asking themselves: Is Bitcoin really where the financial sector is headed? Not if you care about the environment, suggests shocking new data compiled as part of Digiconomist‘s “Bitcoin Energy Consumption Index” (BECI). This eye-opening measure of how much energy it […]
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