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by cortic
1734 days ago
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Fossil fuels being used to fill demand of any sort is its own problem. We need global carbon taxes on a Montreal Protocol level to incentivize any excess demand (investment) to target renewables. -But with this, crypto would be a great boost to renewable technology, guaranteeing a minimum return for business investing in Research and Development. |
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https://arstechnica.com/tech-policy/2021/09/old-coal-plant-i...
Its not unique either. There’s a company in the U.K. that bought an old coal plant, to convert to gas operators, to provide power solely for a crypto mining operation.
Simple fact of the matter is that it currently cheaper and easier for miners to use fossil fuels, then build renewables. Which is exactly what they’re doing.