Cryptocurrency and the blockchain technology that underlies it is responsible for creating assets worth billions of dollars, but the digital “mining” of Bitcoin and other cryptocurrencies is an energy intensive process requiring thousands of computers.
But the energy geared towards mining cryptocurrency doesn’t necessarily have to harm the environment. Some cryptocurrencies are moving towards forms of mining that are less energy-intensive. Others have protocols that require the use of renewable energy.
Miners producing Bitcoin and similar cryptocurrencies are also working to take advantage of inefficiencies in power production and turning them into digital gold.
We spoke to EZ Blockchain, a company that is directly keeping greenhouse gasses out of the atmosphere while turning a profit in the process by utilizing wasted energy with the help of Bitcoinmining and high density computing.
Business of ClimateChange explores the industries that are most implicated in climatechange — and the companies working to fix that. Forbes' Senior Science Editor discusses the promise of these solutions with industry experts, scientists and entrepreneurs.
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