The crypto-climate implications are under a study to determine the scope for balancing energy usage and climate change associated to digital assets by the President’s Agency of Science and Technology Policy (OSTP), an administrative office of the United States. On March 9, US President Joe Biden signed an executive order directing various federal agencies to […]
Tag Archives: Environment
ConocoPhilips, the world’s biggest oil corporation, uses Bitcoin mining to reduce gas flaring emissions.
ConocoPhillips, the international oil and gas conglomerate, is dabbling with Bitcoin (BTC) mining in order to stop the wasteful practice of flaring. According to CNBC, the corporation is now running a trial plan in the oil-rich Bakken area of North Dakota. Rather of burning extra gas, a byproduct of oil drilling known as flaring, the […]
Are we misinformed about the environmental implications of Bitcoin mining? Kristian Csepcsar, CMO of Slush Pool, explains
Bitcoin miners are assisting oil companies in reducing flaring by running generators on natural gas that would otherwise be burned. The environmental impact of Bitcoin (BTC) mining is a contentious topic in the blockchain community that comes up from time to time. Elon Musk, CEO of Tesla, caused a sharp correction in the cryptocurrency market […]