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Doesn't this argument imply that the way to stop climate change is to use as much energy as possible in order to subsidize renewable energy production? If a mi
by rebuilder 6y ago
Doesn't this argument imply that the way to stop climate change is to use as much energy as possible in order to subsidize renewable energy production?
If a miner's power source is on the grid, it doesn't really matter all that much if they own a hydro plant, a solar plant, a coal plant, or are just buying power off the market. Either way, they are increasing the total energy consumption of the grid and their environmental footprint is determined by the grid average emissions and the amount of power the miner uses.
If they've built an off-grid renewable power station, you might argue it would otherwise not been built and is therefore relatively neutral, emission-wise. I think that argument would be wrong, because of the scale of large mining operations.
If you can build new renewable energy capacity at a competitive price and at sufficient scale to power a large mining operation, that's one thing and has nothing to do with whether or not you mine crypto with that energy. Deciding to not sell to the grid at that scale seems irrational, and honestly I doubt miners also operate power stations except maybe at a hobbyist level.