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Digital assets operating with the PoW algorithm are energy intensive.
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One BTC transaction uses nearly 700 kilowatt per hour (kWh) of energy.
The Digital Asset Mining Energy (DAME) tax introduced by the Biden administration in May 2023 is intended to serve the United States’ pro-environment agenda by taxing crypto mining activities. A new study by think tank Competitive Enterprise Institute compares greenhouse gas emissions by major industries – Cryptocurrency mining is far behind several mega industries.
Biden’s Bad Plan
Several global industries including but not limited to chemicals, iron and steel, cement, consume over 2,500 terawatt per hour (TWh) combinedly every year. The study notes, “When placed in context, the energy consumption of the cryptocurrency industry is unremarkable and non-concerning.” Notably, the crypto mining industry, like many other industries, is advancing towards renewable energy sources to mitigate carbon emission
We współpracy z: https://www.thecoinrepublic.com/2024/01/10/crypto-mining-is-energy-intensive-but-far-behind-mega-industries/
