Tether will build renewable energy facilities in Uruguay and El Salvador, the new CEO told Cointelegraph.
Renewable Energy News
Renewable energy is derived from resources that can be regenerated naturally over time. The supply cycle is maintained because the sources are replenished faster than consumed. Sources of renewable energy include the sun, wind, water, biomass and the Earth's heat (geothermal energy). These energy sources power blockchains, cryptocurrency exchanges and mining, helping the cryptocurrency industry become more eco-friendly.
Various cryptocurrencies are known for their environmental impact. For instance, most well-known cryptocurrencies, including Bitcoin — the first cryptocurrency, founded in 2009 — are created through mining. However, to reduce their disproportionate energy use, there has been an explosion in the development of sustainable ways to mine cryptocurrencies and environmentally friendly crypto initiatives.
Additionally, green cryptocurrencies seek to reinvent this procedure to provide a more open, equitable, sustainable system than traditional government-controlled currencies. For instance, green coins are alternative cryptocurrencies that cause less environmental harm because they are developed based on the proof-of-stake (PoS) or delegated proof-of-stake (DPoS) consensus mechanism. By boosting the use of renewable energy, the top miners in the world hope to attain a goal of net zero direct and indirect carbon emissions by 2050 or earlier. Additionally, some cryptocurrency funds and investment products such as exchange-traded funds (ETFs) only deal with coins that are mined in a carbon-neutral manner.
A newly published working paper on Bitcoin mining has worked to counter claims from anti-crypto politicians that Bitcoin is melting the planet.3347
UN scientists evaluated the activities of 76 Bitcoin mining nations during the 2020–2021 period and found that the global BTC mining network consumed 173.42 TW/hs of electricity.3997
Marathon Digital, in particular, produced 1,242 BTC in September, which accounted for a record 4.3% share of Bitcoin miner rewards.5878
Crypto market analysts tend to interpret Bitcoin miners selling their rewards as bearish, but miners countered this logic at the recent Bitmain WDMS conference.7339
Bitmain rolled out its efficiency-focused Antminer S21 at the WDMS, and Bitcoin miners shared their plans for boosting productivity via green energy.10097
Bitcoin’s hash rate has continued to increase, yet its emissions intensity has been trending down, contrary to most other industries, Bloomberg analyst Jamie Coutts explained.7671
The next generation of crypto mining will focus on alternative energy sources for efficiency.5422
New developments in the Bitcoin mining space have Hut 8 vice president Sue Ennis convinced that well-positioned miners will thrive after the next BTC halving.11650
Bitcoin mining lands another green energy data center as global powerhouse GDA sets up shop in Sweden.8933
Energy Web CEO Jesse Morris explains why blockchain can make “going green” more efficient, how fighting climate change is easier, and why Energy Web is building on Polkadot.3205
References to the tax were removed from the U.S. debt bill, but that doesn’t mean it’s gone for good.9011
Bhutan uses Himalayan rivers to generate energy used to mine Bitcoin, local reports reveal.9586
Tom Campbell, an Irish dairy farmer who runs a farm in County Armagh, is using excess energy from his farm to mine Bitcoin.7438
Blockchain’s transparency and traceability can aid sustainability and reduce carbon emissions for climate change.3679