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“Norway could back Bitcoin mining ban on environmental grounds” – Make it make sense 馃檮

“Norway could back Bitcoin mining ban on environmental grounds” – Make it make sense 馃檮



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  1. In North America, in many locations it isn鈥檛 feasible to build a solar, wind or hydro power plant. This is because consumption of power isn鈥檛 constant, and switching the plant on and off is very expensive. Bitcoin miners are saying to renewable providers that they will pre buy power capacity, making the plant viable when energy demand is low. They can also stop mining, when energy is needed by the grid. The generating company will pay them to switch off, as its making so much at peak supply. Bitcoin mining isn鈥檛 all good, but it is making free energy viable in many locations. It can be part of the solution, not the problem.

  2. tldr; Norway is considering policy measures that would tackle the environmental impact of crypto mining, a government minister has said. “Although crypto mining and its underlying technology might represent some possible benefits in the long run, it is difficult to justify the extensive use of renewable energy today,” he added. This comes after Swedish regulators called for an EU-wide ban on proof of work crypto mining.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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