Bitcoin Mining has long been heralded by main-stream-media as a huge drain on the planets energy resources and will cause sea levels to rise…Well, nothing could be further from the truth, as recent studies show that the Bitcoin networking and Bitcoin mining is powered by up to 77% renewable energy.
Why is this? Because Bitcoin mining is self-incentivised as a free market mechanism to encourage miners to seek out cheaper electricity to increase profit margins! Where do you get cheap electricity? Excess from renewable power sources, i.e. Wind farms, solar, and hydro.
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