Business
Bitcoin’s dirty little secret: It’s not easy being green – Sydney Morning Herald
Bitcoin provokes intense debate but one thing everyone agrees on is that it has become a staggering producer of climate wrecking carbon dioxide.
By design bitcoins computations increase in difficulty as more computers come online. In this way, Foley says bitcoin mining is like sticking a straw into the earth and sucking real hard.
As the money has flowed, the enterprises engaged in mining are growing larger and moving into energy-rich but regulation-light environments like China, Russia and Iran in a race to confirm more calculations and mine more bitcoin.
In April 2020, about 65 per cent of all bitcoin mining in the world happened in China,…
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