Bitcoin mining consumes a huge amount of electricity. That’s no secret. Many a would-be miner has been stopped in their tracks by the prospect of a utility bill superseding their profits. But simply mining in locations with cheaper power, such as parts of Canada, Eastern Europe, or China, isn’t the solution either, since cryptocurrency mining still drains the earth’s resources, whether it’s expensive or not.
Sustainable mining, then, isn’t only about finding countries giving their electricity away for next to nothing, or that are cold enough to absorb the heat generated by Bitcoin mining systems. It’s not only about using renewable energy sources, either, according to Blue Chip Vision’s Director of Research and Innovation, Christine Satchell, Ph.D.
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