The Sweaty Penguin

Can Cryptocurrency Rein In its Massive Energy Consumption?

Cryptocurrency has been quite the trend in recent years. Currently there are over 19,000 cryptocurrencies circulating around the world. In 2021, the global market value of cryptocurrency doubled. But some coins have turned out to be major energy sucks, impacting the global climate and many local communities. Bitcoin alone uses 150 terra-watt hours of electricity per year — more than the entire country of Argentina.

Today, we explore what cryptocurrency is, why some coins are using so much energy, and how they can reduce their climate impact moving forward. With special guest Dr. Benjamin Jones, associate professor of economics at the University of New Mexico.

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