Some developers are developing Bitcoin for renewables. Stranded coal is cheaper. Certain people without the regulation that you're talking about are going to go for that. And I'm not clear also where the incentive comes from, who pays a green premium for Bitcoin that is mined using renewable energy? So right now there is a market for green coins. That is something that is very early and not something that anyone that's specifically choosing to decarbonize their operations is shooting for. What we're really shooting for is the ability to be an ESG friendly company,. Most of the biggest funds around the world that are ESG mandated would then be able to not just invest in our companies, but also in
Studies estimate that global bitcoin mining uses more electricity than most countries, and that bitcoin mining may be responsible for about 65 megatons of carbon dioxide a year, comparable with the emissions of Greece. Some bitcoin operations are bringing old coal plants back on line, even as lobbyists for the bitcoin mining industry argue that mining operations can have a positive impact on the climate by creating more demand for carbon-free power. But even if all of the power were derived from green sources, is bitcoin mining really the best use of renewable electricity?
This episode features a report by multimedia journalist Lily Jamali of the public radio program Marketplace, who takes us inside a crypto mining facility in upstate New York.
Guests:
Rolf Skar, Senior Advisor, Greenpeace USA
Brittany Kaiser, Chair of the Board, Gryphon Digital Mining
Thomas Cmar, Senior Attorney, Earthjustice
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