• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
crypto

Is It Possible For Crypto To Go Green? Big Companies Are Trying, But It’s Not That Easy

Christian Encila
by Christian Encila
3 years ago
·
Posted in Bitcoin Mining, Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Going green is an ideal way to run crypto — but is it doable?

Governments have been concerned about the negative impacts of cryptocurrency mining to the environment as it exhausts massive amounts of energy, especially for the so-called “proof of work” mechanism.

China, for instance, has banned Bitcoin mining. In Northern Sweden, Hive Blockchain, a Canadian-based company depends on hydropower plants to mine cryptocurrencies. In fact, the entire region is popular for using renewable energy.

Suggested Reading | Equinox, The Luxury Gym Brand, Starts Accepting Payments In Bitcoin

Is Bitcoin mining harmful to the Earth? (Image credit: Curious Earth)

Hive Blockchain In Sweden

This Ethereum mining facility in Sweden is filled with computers or a total of 15,000 mining rigs that work 24/7/365 to mine new digital currency units. Bitcoin also uses the same proof-of-work mechanism as ETH.

To mine new cryptocurrencies, they have to beat others to it and find the right answer to technical math puzzles which ramp up in difficulty as additional miners join the network. The mining process ensures that every transaction is verified and legitimate.

Hive Blockchain runs the ETH mining facility and it’s one of the first companies that have innovated to using clean and renewable energy for mining activities.

Crypto Mining’s Environmental Impact

In Sweden, both wind power and hydro power is used for mining crypto and for powering up homes and industries in the region. They are now using green energy which should encourage other countries and governments to follow through.

Crypto miners only use the excess in energy from households which when unused would be left to waste. However, with the computers running continuously, this has still alarmed government officials with the possible impact of the activity to the environment.

Suggested Reading | Warren Buffett Says He Won’t Pay Even $25 For All The Bitcoins In The World

BTC total market cap at $731.76 billion on the daily chart | Source: TradingView.com

Transition To ‘Proof Of Stake’ Mechanism

In fact, Swedish Finance watchdog Finansinspektionen has encouraged the European Union to completely ban crypto mining because of its extremely high energy consumption. More companies are seriously looking into tapping on clean and renewable energy to comply with the Paris Agreement.

Environmental advocacy group Greenpeace, together with other related organizations pushing for a green crypto, have called on the community to use proof of stake mechanism instead of POW as this can greatly reduce the costs for validating crypto transactions.

Ethereum is now transitioning to POS as this can lessen energy use by as much as 98%. More so, other tokens now run on POS networks such as Solana and Cardano.

However, crypto experts conclude that the transition to POS and completely turning away from POW may be far-fetched because not one unit can fully control the system. There is no central authority to begin with. And not everyone seems to agree with this transition.

Featured image from Forbes, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

TeraWulf

Bitcoin Miner TeraWulf Targets $3 Billion To Power Google-Tied Project

4 hours ago
Crypto’s Q4 Sweet Spot: Legislation, Stablecoins and Rates Cut Fuel PEPENODE Presale

Crypto’s Q4 Sweet Spot: Legislation, Stablecoins and Rates Cut Fuel PEPENODE Presale

7 hours ago
Saylor Says Bitcoin Will ‘Move Up Smartly Again’ – Next 1000x Cryptos According to Grok

Saylor Says Bitcoin Will ‘Move Up Smartly Again’ – Next 1000x Cryptos According to Grok

9 hours ago
Stablecoins to Hit $4 Trillion by 2030, Says Citi Report: Best Time to Try Best Wallet

Stablecoins to Hit $4 Trillion by 2030, Says Citi Report: Best Time to Try Best Wallet

5 hours ago
Best Altcoins to Buy After Google Acquires Stake in Bitcoin Mining Company

Best Altcoins to Buy After Google Acquires Stake in Bitcoin Mining Company

12 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 26)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 26)

8 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    17 hours ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    3 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    4 days ago
  • Snorter надхвърли $4 милиона след...

    4 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.