Bitcoin, fossil fuels… Ketan Joshi

Ketan Joshi has an interesting piece on Bitcoin miners’ use of electricity, here…

”Fiege details how Bitcoin miners fled the zero emissions hydropower of China to consume oil-heavy Iranian power, over-supplied due to sanctions applied to the country by the US. In recent weeks, those mining operations have contributed to blackouts and grid stress in Iran, and the government is cracking down on the activity. “The prospect of utility independence and wholesale rates make fossil fuels far more compelling than grid-restricted renewables”, he simply declares. Despite the confused, tortured logic trying to mimic the language of climate action, and the vague promises to do better, there is an inherent drive towards fossil fuels.”