(Natural News) Concerns regarding the environmental impact of bitcoin have surfaced despite its rising prominence. Many have criticized the cryptocurrency’s mining process for using up huge amounts of energy. Because of this, the U.S. treasury secretary warned of bitcoin’s “staggering” energy demand and slammed it as “extremely inefficient.” CNBC reported Feb. 22 that U.S. Secretary […]

(Natural News) The media is reporting that communist China has ceased mining Bitcoin cryptocurrency, suggesting that the industry there has officially collapsed. Excess energy consumption is taking the blame for the halt, though reports indicate that many of the now-shuttered mining operations have since moved to Texas and Florida. Some are blaming Bitcoin’s continued descent […]

(Natural News) Chinese miners are selling out or seeking new markets overseas after local governments in mining hubs in China imposed sweeping bans on cryptocurrency mining. “Many miners are exiting the business to comply with government policies,” said Mike Huang, operator of a crypto mining farm in the southwest province of Sichuan, which is China’s second leading […]

(Natural News) China’s central bank ordered officials from the country’s largest banks to reinforce a ban on cryptocurrency services. A statement from the People’s Bank of China (PBOC), released Monday, June 21, said that representatives from the Industrial and Commercial Bank of China Ltd., Agricultural Bank of China and internet payment provider Alipay were summoned to a meeting […]

(Natural News) President Nayib Bukele of El Salvador has instructed a state-owned geothermal electric company to put up a plan to use geothermal energy from the country’s volcanoes for bitcoin mining. Bukele announced his move on Twitter at 1:35 a.m. Thursday, June 10, just hours after El Salvador became the first country to authorize bitcoin as a […]

(Natural News) It was only six months ago when Bitcoin fanatics were telling us the cryptocurrency was headed to $1 million, and that anyone who didn’t take out a mortgage to buy Bitcoin was a complete fool. Today, of course, Bitcoin has fallen below $7,000 and continues its downward plunge. This reality has been utterly […]

(Natural News) Bitcoin mining first became a mainstream thing when word about Bitcoin itself hit the mainstream. It was a slow but steady way of making bitcoins on your own, and has been taken up as serious endeavors by would-be cryptocurrency entrepreneurs. And between all of them, they mine all kinds of other cryptocurrencies apart […]

(Natural News) Because they exist fictitiously somewhere out there in cyberspace, digital cryptocurrencies like Bitcoin might seem like more eco-friendly alternatives to traditional cash. But the latest data shows that not only does “mining” Bitcoin consume unprecedented amounts of energy, but the bulk of this energy comes from coal: A highly-polluting substance that, when burned, […]

(Natural News) Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst. (Article republished from PowerCompare.co.uk) However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is […]

(Natural News) The cost of mining Bitcoin is quickly outpacing the dollar value of Bitcoin itself, new reports indicate. The most up-to-date Bitcoin mining devices cost upwards of around $4,000, and yet by the time it produces enough Bitcoin to even break even, such a machine will already be obsolete and in need of replacement. […]