Cryptocurrency energy expert

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PARAGRAPHBy Justine Calmaa senior science reporter covering climate of the energy demands of their electricity consumption and associated. The Verge The Verge logo.

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Cryptocurrency mining is a process that usually involves high energy consumption, due to the complex levels of computation required. Cryptocurrency mining rigs use large amounts of energy to cool and operate. expert Alex de Vries. The US is one of the largest bitcoin miners. To investigate, TIME spoke with several energy and environmental experts to break down some of the crypto community's main arguments.

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Offsets essentially allow companies to pay to continue polluting. But renewable energy developers need customers in order to grow, and proof-of-work miners provide exactly that, Thiel argues. Putting a crypto mining plant on top of the farms would theoretically give them immediate revenue. Climate change is one of the most pressing problems confronting our nation and our world, and President Biden has taken bold steps to address it with legislation and policy.