Is Bitcoin a threat to the environment, or its saviour?
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City AM
City AM
By Darren Parkin As summer approaches and we head inexorably to a nuclear apocalypse, extinction-by-generative-AI or climate crisis obliteration, it’s nice to know that somebody, somewhere will blame Bitcoin for the end of the world. While the volatility of the currency is well-known, the one constant is that Bitcoin is using too much of the world’s resources, ‘equivalent to a small country’ and that its proof-of-work protocol is an unnecessary impediment to Net-Zero commitments; Bitcoin mining should be banned. As we know, these calls happen regularly and from country to country. As we also k…