Bitcoin and other PoW coins are an ESG nightmare

[Note: a PDF version of this paper is available. The views expressed below are solely my own and do not necessarily represent the views of my employer or any organization I advise.] Abstract This p…

Click to view the original at

Hasnain says:

I knew Bitcoin energy consumption was bad for the world but this really makes the scope of the problem cleared - and it’s so much worse.

“As we will see below, the more than 2 million machines used in Bitcoin mining alone consume as much energy as Egypt or the Netherlands consumes each year. And they do so while simultaneously only securing a relatively small amount of payments less than $4 billion last year. “

Posted on 2021-02-15T04:23:47+0000