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In his executive order on crypto issued earlier this month, President Joe Biden tasked the White House’s Office of Science and Technology Policy (OSTP) with preparing a report on the “potential for digital assets to impede or advance efforts to tackle climate change and the transition to a clean and
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The Russian Federation's energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from “friendly countries” such as China and Turkey.He said those countries could begin paying for energy in Russian Rubles, Chinese Yuan, Turkish Lira — or even Bitcoin (BTC) —
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Stronghold Digital Mining (SDIG), a crypto mining company in Pennsylvania, is turning waste from old power plants into energy to power hundreds of Bitcoin mining rigs.The company collects coal refuse, a leftover waste material from the process of coal mining, and burns it in what it says is an emissions-controlled
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Simply shifting the cost curve to up-front cost might lead to the exact opposite centralization problem. Instead of most bitcoin mining ending up near cheap, abundant energy sources that popped up in developing, labor-abundant countries, like China, they might coalesce in developed, capital-abundant countries, like the United States. Specialized mining
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Republican Congressman Pete Sessions from Texas has come out with a bold statement about the impact Bitcoin mining will have not just on his state but on the United States as a whole.The Texan representative, a proponent of Bitcoin (BTC) mining, tweeted on March 22 that “Bitcoin Mining will play
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How a European war made an argument about mining moot. This op-ed is part of Mining Week. Source
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The preceding point about transaction validation is important because it is enticing to compare the energy density of Bitcoin transactions to something like Visa (V). Bitcoin can only handle seven transactions per second compared to Visa’s 24,000+. But, remember, Bitcoin doesn’t use energy to validate transactions. The miners’ job is
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Much has been said about Bitcoin‘s carbon emissions. Far less has been said about the potential of blockchain to increase the efficiency of renewables by transparently managing supply and demand. Blockchain doesn‘t pose a threat to the planet — it’s going to play an essential role in helping to bring
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While Russia’s Ukraine invasion has been at the forefront of people’s minds, a global recession and the possibility of an energy crisis have been thrown into the conversation. Reports concerning the U.S. economy note that risks of an economic recession are climbing, and energy market historian Daniel Yergin thinks the
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