Bitcoin mining uses large amounts of electricity
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- Bitcoin uses a “staggering” amount of energy each year, said the investment director of British private bank Societe Generale.
- Fahad Kamal said this means bitcoin conflicts with the new emphasis on environmental investing.
- Still, proponents say bitcoin mining can be powered by renewable energy.
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Bitcoin’s energy consumption is a key factor that makes cryptocurrency unattractive to institutional investors, said the investment director of British private bank Societe Generale.
“We are very alarmed, I’m sure the others are, by…
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