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Can Bitcoin mining really support renewable energy?
It might look good on paper, but reality is more complicated.
A new study finds that Bitcoin mining paired with green hydrogen could help speed up a transition to clean energy — an eyebrow-raising claim, considering strong evidence that the cryptocurrency is a big polluter. Bitcoin mines are data farms filled with specialized hardware that solve computational puzzles around the clock for a chance to validate new transactions on the blockchain. The state’s grid operator has paid crypto miners tens of millions of dollars in energy credits to prevent blackouts during electricity demand peaks and supply shortages.
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