Private-equity firm revives zombie fossil-fuel power plant to mine Bitcoin(arstechnica.com)
arstechnica.com
Private-equity firm revives zombie fossil-fuel power plant to mine Bitcoin
https://arstechnica.com/tech-policy/2021/05/private-equity-firm-revives-zombie-fossil-fuel-power-plant-to-mine-bitcoin/
2 comments
Strange, I could have sworn I was told that bitcoin was mined using all renewable energy...
Not that this is a much better argument unless you ignore the concept of opportunity cost and Jevon's paradox. Green energy going into bitcoin could be used to replace traditional energy sources which could then be turned off. If you keep pumping new energy sources into never-ending stream of new inventions you're slowing, halting or in the worst case even reversing the transition speed.
https://en.wikipedia.org/wiki/Jevons_paradox
https://en.wikipedia.org/wiki/Jevons_paradox
Oh no, see the mining rigs run on hydroelectric; they’re just using the coal plant to pump water into the reservoir.
This is the grossest thing I've seen all day and I started the day seeing a photo of the world record holder for "how far can you pop your eyeballs out of your head".