“The ‘currency of the future’ is dragging us into the past when it comes to the urgent battle to save the climate,” said EWG President Ken Cook
Cryptocurrencies like bitcoin use a software code, proof of work, that require the use of massive computer arrays to validate and secure transactions. Based on estimates by the University of Cambridge, these currently use as much electricity in a year as Greece, Sweden or the Netherlands. Yet bitcoin’s electricity use is expected to grow, which increases along with its price.
The campaign website, Clean Up Bitcoin, lets the public join the campaign.