China's control of bitcoin mining terrifies investors

China’s control of bitcoin mining terrifies investors
New research suggests coal-powered China controls around 75 per cent of bitcoin mining, with it set to consume as much energy as Italy by 2024.
Apr 7, 2021 – 4.45pm
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Calls for a crypto carbon tax are rising as new research suggests bitcoin mining alone will consume as much energy as Italy by 2024, with China racing ahead of the West in leveraging digital currencies for political gain.
The debate over bitcoin’s energy consumption is also starting to divide China and the woke West, as celebrity
Shark Tank investor and software entrepreneur Kevin O’Leary told CNBC television this week he would only buy bitcoin mined sustainably, rather than “blood coin” mined in China.

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