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Bitcoin’s growing energy problem: ‘It’s a dirty currency’

Climate activists are agitated that fossil fuels will be burnt to mine crypto, and are pushing regulators to clamp down on this

©The Financial Times Limited 2020 May 20, 2021 / 01:13 PM IST
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Bitcoin’s growing energy problem: ‘It’s a dirty currency’

Bitcoin | Representative image

Katie Martin in London and Billy Nauman in New York On the shores of Seneca Lake in upstate New York, a private equity company has bought a decommissioned coal power plant and converted it to burn natural gas. It then switched it back on to become what it describes as a “power plant-cryptocurrency mining hybrid”. Greenidge Generation Holdings, the company behind the plant, plans to go public later this year, saying it expects to become “the only US publicly listed bitcoin...

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