The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community. Cryptocurrency miners based in the United States could soon face a tax equal to 30% of the cost of electricity they use if President Joe Biden’s proposed budget for the…
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Environmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Willy Woo created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress. Contrary to Cambridge University Data, Analyst Says Bitcoin Mining Uses 52.6% Sustainable Energy These days, there…
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Despite the European Union rejecting a proposal banning crypto mining earlier this year, more regulations could soon be implemented to mitigate the environmental impacts of crypto mining. Bitcoin (BTC) has seen a 41% increase in energy consumption Year-on-Year (YoY) despite dramatic improvements in energy efficiency and a more diverse and sustainable energy mix — but…
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At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first…
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On Tuesday, Fort Worth mayor Mattie Parker and Fort Worth revealed that the city is now the first U.S. city government in the country to mine bitcoin. According to the announcement, the city of Fort Worth has partnered with the Texas Blockchain Council to embark on the crypto mining endeavor. The City of Fort Worth…
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The latest Bitcoin Mining Council report showed that the mining industry is rapidly adopting sustainable energy sources to secure the largest crypto blockchain. Bitcoin (BTC) mining companies are further adopting green energy as the global Bitcoin mining industry increased its sustainable energy mix by approximately 59% year over year. The Bitcoin Mining Council (BMC) is…
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