High Energy Consumption
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environmental
Criticism: Bitcoin mining consumes vast amounts of energy, contributing to environmental degradation and climate change.
Counterarguments:
Shift Toward Renewables: Many Bitcoin miners are shifting toward renewable energy sources or situating themselves near excess power supplies to reduce costs.
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Efficient Mining Practices: Technological advancements in mining hardware improve energy efficiency, reducing the power required per transaction.
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Bitcoin as Energy Demand Balancer: Bitcoin mining can stabilize grids by consuming excess energy during low-demand periods and shutting off during high-demand peaks.
By: admin