this post was submitted on 27 Jul 2025
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Yes, but that still means that the other half is fossil fuel.
I think people should really reconsider using PoW cryptocurrencies. Ethereum was able to reduce their energy consumption by 99.95% by switching to PoS and it's still doing fine. IMO Bitcoin is outdated technology that is just used as a pyramid scheme due to its name recognition.
Compared to our current system though? How much does the entire banking and credit card industry contribute to emissions for almost the same service? Bitcoin incentivises energy companies to mine BTC with excess energy.
There is no excess energy though. They wouldn't be making that energy if it wasn't for Bitcoin.
I’ll see if I can link it but some companies do, I think specifically it has to do with renewable energies but don’t quote me on that