B.C. Hydro hoped 2022 Bitcoin crash would bring normalcy to sector, but interest still booming while new sustainability questions arise.
Industry officials argue that the Times’ investigation unfairly maligns what they view as unlocking a new digital economy that is already entrenched.
Any time bitcoins or fractions of coins are sold or exchanged, those transactions also need to be verified. B.C.-based bitcoin mining operations contacted by Postmedia did not respond to questions by deadline, but the Canadian Blockchain Consortium, a national association that represents data companies involved in mining has rejected criticism of the sector.Article content
Kerringten wrote that the industry estimated it is cleaner than it is made out to be because 60 per cent of its power globally comes from renewable sources compared with just 29 per cent of overall electricity generation. Bitcoin miners were able to use the existing power connections of closed mills and take up power demand they were no longer consuming.
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