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>is that right now there is no "better" use for that electricity than bitcoin. You can't abstract away the fuel for energy production. I'm sure bitcoin miners
by purple_ferret 6y ago
>is that right now there is no "better" use for that electricity than bitcoin.
You can't abstract away the fuel for energy production. I'm sure bitcoin miners would be fine with mining every last bit of coal on the planet and using it to run their rigs if they can do it cheaply (which they probably can as coal prices drop and renewables ramp up)
Majority of bitcoin mining is run on fossil fuel power.[0]
A better 'use' is keeping it in the ground.
Here's a byproduct of bitcoin mining, basically throwing a lifeline to dying coal plant: "Bitcoin miner Marathon signs for coal-fired electricity in Montana"[1]
[0]https://decrypt.co/43848/why-bitcoin-miners-dont-use-more-renewable-energy https://decrypt.co/43848/why-bitcoin-miners-dont-use-more-re...
[1]https://www.datacenterdynamics.com/en/news/bitcoin-miner-marathon-signs-coal-fired-electricity-montana https://www.datacenterdynamics.com/en/news/bitcoin-miner-mar...