Bitcoin is struggling to go green, with the cryptocurrency making only slim gains in its usage of sustainable energy, Cambridge research shows.
Workers install a new row of Bitcoin mining machines at the Whinstone US Bitcoin mining facility in Rockdale, Texas, on Oct. 9, 2021.LONDON — Bitcoin is struggling to go green, with the cryptocurrency making only slim gains in its usage of sustainable energy in the year to January, research by Cambridge university showed on Tuesday.
Projects have sought ways to shift bitcoin mining towards cleaner energy, such as repurposing heat byproducts from oil extraction for crypto mining. The role of sustainable power — classed as nuclear, hydro, wind and solar — in the mix barely rose, hitting about 38% from 35% a year earlier. Hydro dropped to 15% from around 20%.
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