Bitcoin Mining Industry Consumed More Power Than Sweden In 2022
The Bitcoin mining industry has time and again received backlash for being power intensive. Despite the efficient evolution of the Bitcoin mining industry, governments across the world have been taking measures to conserve power. In Q4 2022, New York officially became the first US state to issue a moratorium on fossil-fuel-powered crypto mining. Later, a Canadian province did something similar, but for a different reason. The Manitoba province put forth an 18-month moratorium on new crypto mining in light of the possibility of new crypto projects overpowering the local grid. More recently, British Columbia, another Canadian province, hit a pause on electrical connections for crypto mining. The said measure was taken to preserve the province’s supply of clean electricity and to cater to its climate action and economic goals. Read More: Canada’s British Columbia Halts Crypto Mining Energy Requests For 18 Months Was The Bitcoin Mining Industry Demandin...
