Brian McCowan, Zondits staff, 12/6/2022 Cryptocurrency has long been criticized for the outsized energy usage involved in mining new coins and verifying transactions. But now CNBC and other news outlets are reporting that one of the largest cryptocurrency operations, Ethereum, has adopted new algorithms that dramatically decrease energy consumption. The revised system for minting new … Read more
As concern grows over bitcoin’s energy use, what’s next for cryptocurrency? Cryptocurrency mining is driving up power prices in small towns with cheap electricity. Can Bitcoin be made more efficient, or is the future of crypto in another currency? Written by Robert Walton, utilitydive.com, March 28, 2018 David Bowman started mining bitcoin in his apartment … Read more
Written by Allison Donnelly, ERS for Zondits, March 29, 2018 Bitcoin and other cryptocurrencies have seen an unprecedented boom in the last year, going from a speculative, fringe industry often associated with its use in shady industries to a major financial market player. At the same time, cryptocurrency mining – the “minting” of new “coins” … Read more
Munis to charge cryptocurrency miners higher power prices in New York Written by Robert Walton, Utility Dive, March 16, 218 Dive Brief: New York regulators will allow municipal power providers to charge higher rates to high-load cryptocurrency mining operations, which are using large amounts of power and driving up prices for other customers. In upstate New York, … Read more