Europe must ban cryptocurrency to hit climate goals says Swedish authorities

[iDJ]

Erik Thedéen, director of the Swedish Financial Supervisory Authority, and Björn Risinger, director of the Swedish Environmental Protection Agency, said cryptocurrency's rising energy usage is threatening Sweden's ability to meet its obligations under the Paris Climate Agreement.

Between April and August this year, the energy consumption of Bitcoin mining in the Nordic country rose "several hundred per cent," and now consumes the equivalent electricity of 200,000 households, Thedéen and Risinger said.

Ban Bitcoin mining to save the environment, say Swedish authorities

Environment and finance regulators in the Nordic country say crypto mining's electricity usage is putting the climate at risk.

www.euronews.com

 

[Mystique]

Rest of the world should follow

Crypto Mining in Texas May Demand 5 Times More Electricity by 2023

Many Texas residents have linked this energy consuming process of Bitcoin mining to the electricity outages they have to put up with.

gadgets.ndtv.com