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The Big Picture: Bitcoin s energy consumption Depending on your personal stake in the cryptocurrency, bitcoin has been a source of heady profits or crushing losses, a beacon of enormous potential or profound disappointment. If nothing else, bitcoin s sharp fluctuations in value have been fascinating to watch. One aspect that has received less notice is its environmental impact. The key to bitcoin is the blockchain, which is an open digital ledger of all the transactions worldwide involving bitcoin. It s built on a peer-to-peer network and each new transaction becomes a new block on a chain that can t be changed. The mathematical calculations necessary to maintain the blockchain require incredible processing power, particularly as the currency has become more popular, and keeping all those computer servers humming necessitates a lot of electricity. A recent analysis by Cambridge University found that

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