The Environmental Impacts of Cryptomining inferse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inferse.com Daily Mail and Mail on Sunday newspapers.
Big financial services companies like Fidelity need to acknowledge Bitcoin’s climate pollution and other environmental impacts by taking responsibility for the problem. The financial industry is generating revenue and creating services to help grow this energy-intensive cryptocurrency. At the same time, corporate pledges to reduce carbon emissions and sustainability plans don’t include Bitcoin’s climate impacts or risks.
Today, Clean Air Coalition of Western New York and Sierra Club, represented by Earthjustice, filed suit with the Supreme Court of Albany County citing violations of New York’s Climate Leadership and Community Protection Act (CLCPA) in the approval of a fossil fuel-burning Proof-of-Work (PoW) cryptocurrency mining operation.
"This first-in-the-nation law should set the standard for every other state where crypto miners are coming in, extracting resources, and wreaking havoc," said one campaigner. [.]