> bitcoin will create additional demand for cheap renewable and accelerate the green transition Bitcoin does not create demand for renewable energy. Bitcoin on

> bitcoin will create additional demand for cheap renewable and accelerate the green transition Bitcoin does not create demand for renewable energy. Bitcoin only creates demand for energy. If bitcoin had significant demand for "cheap renewable energy", then we should have seen bitcoin mining operations concentrating in locations where renewable energy is abundant and land is pretty much useless for anything else. This has not happened in reality. Furthermore, even if we assume that bitcoin does put demand on renewable energy, since bitcoin mining does not replace other consumers, it is an additional overall energy demand. As long as bitcoin energy consumption grows faster than new renewable installations it effectively runs on carbon.