One of the main criticisms of bitcoin and other cryptocurrencies is the fact that these digital assets tend to be highly energy-intensive.
It is currently estimated that the bitcoin network alone consumes as much energy as the Netherlands, with a carbon footprint of the Czech Republic. Although estimates vary from source to source, it is clear that digital assets are consuming a lot of energy.
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What’s more, a lot of bitcoin miners have been based in emerging economy nations such as Mongolia, which depend heavily on coal-fueled power stations to produce cheap energy.
This trend has started to change as countries such...
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