"Facing intense criticism, the crypto mining industry is trying to change the view that its energy-guzzling computers are harmful to the climate."
"Along a dirt-covered road deep in Texas farm country, the cryptocurrency company Argo Blockchain is building a power plant for the internet age: a crypto “mining” site stocked with computers that generate new Bitcoins.
But unlike other Bitcoin mining operations, which consume large quantities of fossil fuels and produce carbon emissions, Argo claims it’s trying to do something environmentally responsible. As Peter Wall, Argo’s chief executive, led a tour of the 126,000-square-foot construction site one morning this month, he pointed to a row of wind turbines a few miles down the road, their white spokes shining in the sunlight.
The new facility, an hour outside Lubbock, would be fueled mostly by wind and solar energy, he declared. “This is Bitcoin mining nirvana,” Mr. Wall said. “You look off into the distance and you’ve got your renewable power.”
Facing criticism from politicians and environmentalists, the cryptocurrency mining industry has embarked on a rebranding effort to challenge the prevailing view that its electricity-guzzling computers are harmful to the climate."
David Yaffe-Bellany reports for the New York Times March 22, 2022.
SEE ALSO:
"Coal to crypto: The gold rush bringing bitcoin miners to Kentucky" (Thomson Reuters Foundation)
"Margins of Up to 90% Give Energy Firms That Mine Bitcoin an Edge" (Bloomberg)
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