(INDEPENDENT SENTINEL) – Did you know that cryptocurrency is using as much power as Argentina and has the carbon footprint of Greece?
According to Spigen, “Tesla CEO Elon Musk rocked the crypto market in 2021 when he said his company would no longer accept bitcoin for vehicle purchases. His reasoning had to do with a large amount of fossil fuel-generated energy required to mine cryptocurrency. Musk changed his approach and delivered Tesla Megapack batteries to a Texas bitcoin mining facility in May.
As the crypto markets crashed in 2022, crypto mining continued to consume roughly as much power as Argentina and to have a carbon footprint equivalent to that of Greece, according to a research report titled “Revisiting bitcoin’s carbon footprint,” published in February.
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