China’s vast Bitcoin mining empire risks derailing its climate targets

https://www.theguardian.com/technology/2021/apr/07/china-bitcoin-mining-climate-targets-nature-study

by hootbootscoot • 5 years ago

8 4 5 years ago

theguardian.com

asplake• 5 years ago

“China powers nearly 80% of the global cryptocurrencies trade”

Gibbon1• 5 years ago

Best comment I've heard so far. Bitcoin primary use is to move money out of China.

Offhand thought, Bitcoin is also being used to sop up about $2T worth of excess liquidity.

yostrovs• 5 years ago

There doesn't seem to be any evidence that China actually ever intended to meet climate targets. They've been building coal electric plants at a rapid rate continuously for decades now. In the meantime they've attended climate meetings and reassured everyone they're on the same page. I believe part of the problem is taking seriously the multinational agreements that form the core of the climate remediation efforts.

Flatcircle• 5 years ago

Have no idea how bitcoin's power requirements haven't become a real scandal for even moderate climate defenders. It's crazy.

China’s vast Bitcoin mining empire risks derailing its climate targets

Related Stories