The Bitcoin mining industry has long been a target for environmental groups, many of whom accuse the industry of being electricity heavy and leaving a significant carbon footprint on the planet. While some have accused the mining industry of shoehorning half of the global industry output by 2020, others have suggested that such mining activities will lead to the planet missing its global warming targets while growing 2 degree Celsius warmer in two decades. However, according to a paper written on Medium by Robert Sharatt, a former investment banker, all of these claims are incorrect and misleading.
An environmentalist with experience in the banking and power industry, Sharatt declares that most of the data underlying such claims made by environmental groups are faulty. Citing the claims mentioned above, both of which have been repeated by noted publications such as The Guardian and The Independent, Sharatt says all the data behind such reports emerge from one source, a blog titled…
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