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techmonitor-ai-1765		Bitcoin and the environment: Crypto's uncertain future - Tech Monitor			.html	text/html	2599	187	65	Crypto proponents argue that, driven by the need for cheap electricity, mining is largely powered by renewable sources, such as (until recently) the excess power generated from renewable hydroelectric dams in China. It also ignores the impact mining has on displacing other users from using renewable power, says author and crypto sceptic David Gerard. "The glorious tractor factory never got built, but the dam did," says Deane, "so there's a huge amount of excess power which they want to offload somewhere." This, he argues, is the ideal model for power generation in proof-of-work operations, and one that was mirrored until very recently in the global centre of mining activity, China. There is a third model of crypto mining that uses far less energy than either Bitcoin or Chia. By clicking Sign Up, you agree with New Statesman Media Group Ltd (publisher of Tech Monitor) GDPR, Privacy Policy and Terms and Conditions.	./cache/techmonitor-ai-1765.html	./txt/techmonitor-ai-1765.txt