About Contx

American Bitcoin mining company Stronghold Digital Mining has recently purchased an entire coal power plant in the state of Pennsylvania. The company burns enough coal to power more than 1,800 cryptocurrency mining computers, which Stronghold says equates to burning around 600,000 tons of coal per year.

This has environmentalists concerned as many mining operations across the globe operate in the same way. By burning massive amounts of fossil fuels. According to SEC filings made by Stronghold, the company plans to operate more than 55,000 crypto currency miners by the end of 2022, as reported by @nbc.

According to industry experts, Bitcoin and other cryptocurrency mining operations are bringing America’s aging fossil fuel power plants back to life. Which, environmentalists say, only discourages greater investment in renewable energy sources during a time when shifting from carbon-emitting to renewable sources of energy is essential.

Alex de Vries, founder of Digiconomist, an organization that keeps track of the unintended environmental impacts of cryptocurrencies, told the NBC that: "Bitcoin mining is essentially waste by design... It’s a system where participants are forced to waste resources to provide some level of security on the network. The more value bitcoin has, the more money it’s worth, the more we spend on resources.”

About Contx

American Bitcoin mining company Stronghold Digital Mining has recently purchased an entire coal power plant in the state of Pennsylvania. The company burns enough coal to power more than 1,800 cryptocurrency mining computers, which Stronghold says equates to burning around 600,000 tons of coal per year.

This has environmentalists concerned as many mining operations across the globe operate in the same way. By burning massive amounts of fossil fuels. According to SEC filings made by Stronghold, the company plans to operate more than 55,000 crypto currency miners by the end of 2022, as reported by @nbc.

According to industry experts, Bitcoin and other cryptocurrency mining operations are bringing America’s aging fossil fuel power plants back to life. Which, environmentalists say, only discourages greater investment in renewable energy sources during a time when shifting from carbon-emitting to renewable sources of energy is essential.

Alex de Vries, founder of Digiconomist, an organization that keeps track of the unintended environmental impacts of cryptocurrencies, told the NBC that: "Bitcoin mining is essentially waste by design... It’s a system where participants are forced to waste resources to provide some level of security on the network. The more value bitcoin has, the more money it’s worth, the more we spend on resources.”

This has environmentalists concerned as many mining operations across the globe operate in the same way. By burning massive amounts of fossil fuels. According to SEC filings made by Stronghold, the company plans to operate more than 55,000 crypto currency miners by the end of 2022, as reported by @nbc.

According to industry experts, Bitcoin and other cryptocurrency mining operations are bringing America’s aging fossil fuel power plants back to life. Which, environmentalists say, only discourages greater investment in renewable energy sources during a time when shifting from carbon-emitting to renewable sources of energy is essential.

Alex de Vries, founder of Digiconomist, an organization that keeps track of the unintended environmental impacts of cryptocurrencies, told the NBC that: "Bitcoin mining is essentially waste by design... It’s a system where participants are forced to waste resources to provide some level of security on the network. The more value bitcoin has, the more money it’s worth, the more we spend on resources.”

Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock