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by Tyler Durden
Monday, May 17, 2021 - 12:44 PM
Amid all the contention of the last few days, sparked by Elon Musk s virtue-signaling, the noise-to-signal ratio around the crypto market s energy use has gone to 11 on the Spinal Tap amplifier of social justice.
However, those darn facts and science keep getting in the way of the bitcoin = bad guy destroying the earth narrative and new research by crypto firm Galaxy Digital (founded by former hedge fund manager Michael Novogratz) has shown that both the traditional banking system and the gold industry consume much more energy than the bitcoin network.
According to the report, compiled by Galaxy’s mining arm, bitcoin’s annual electricity consumption stands at 113.89 TWh (terawatt-hours). That includes energy for miner demand, miner power consumption, pool power consumption, and node power consumption. The amount is at least two times lower than the total energy consumed by the banking system, which is estimated to rea
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NYDIG Strengthens Leadership with Appointment of Jacqueline D. Reses to Board of Directors
January 26, 2021 GMT
(PRNewsfoto/NYDIG)
NEW YORK, Jan. 26, 2021 /PRNewswire/ NYDIG, a leading provider of technology and investment solutions for Bitcoin, announced today that Jacqueline D. Reses has been appointed to its Board of Directors. Ms. Reses is a veteran entrepreneur with extensive public company board experience, and a member of the Federal Reserve Bank of San Francisco’s Economic Advisory Council. Ms. Reses will maintain a particular focus on the expansion of NYDIG’s growing Platform Solutions business, enabling insurance companies, banks, and fintechs to offer bitcoin-related services, working closely with NYDIG’s newly-appointed President, Yan Zhao.