China cracking down on bitcoin mining and Elon Musk suspending Tesla’s acceptance of bitcoin due to the large amounts of energy it takes to mine have both contributed to the cryptocurrency losing almost half its value from its high of over $64,000 in April.
It’s also making it hard for even bitcoin bulls to ignore what many say are bitcoin’s sustainability issues. (Though not everyone agrees.)
So what’s the solution? Here’s why bitcoin uses so much energy and a few ways bitcoin mining could be more eco-conscious, according to experts.
Bitcoin’s main sustainability issue is the huge amount of energy used in bitcoin mining.
Bitcoin mining is how new…