Ignore the headlines — Bitcoin mining is already greener than you assume
Is it potential to mine (BTC) utilizing solely 100% renewable power sources and ship the identical financial returns as these utilizing carbon-based sources? The reply is sure, based on Sq.’s current evaluation on the price of renewables and their impression on Bitcoin mining.
Sadly for our trade, the quantity of headlines and headline-making tweets about Bitcoin’s power use and potential environmental impression has adopted its rise in worth in current months. The elevated media scrutiny has led to elevated requires regulatory motion and even a proposed invoice within the New York State Senate that would place a three-year moratorium on non-renewable Bitcoin mining within the state.
Dan Tolhurst co-founded Gryphon Digital Mining in 2020 with the imaginative and prescient of making the ESG-driven Bitcoin miner, and appears ahead to the day that each one Bitcoin mining is completed utilizing renewable power sources. He has deep experience as a technique government from his time at Netflix (NASDAQ:), The Walt Disney Firm (NYSE:) and Booz & Co., in a profession spanning 5 continents. He holds each an HBA and an MBA from the Ivey Enterprise College at Western College and a JD (NASDAQ:) from Osgoode Corridor Regulation College at York College. He spends his free time exploring London’s parks, travelling and cheering on his beloved Toronto Raptors.
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