Canada’s Crypto Boom And The Energy Concerns It Raises ...Middle East

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Canada’s Crypto Boom And The Energy Concerns It Raises
source : OILPRICE ( Middle East ) () 38
In recent years, the rise of cryptocurrency mining has caused concern for those hoping for a green transition, as the sector increases its electricity use year on year, causing the energy demand in certain regions to rise rapidly. Until now, crypto production has relied mainly on electricity generated from fossil fuels, including using flared gas from operations using carbon capture and storage technologies. We are seeing an acceleration in the rollout of renewable energy projects, but some worry that if the demand for electricity continues…

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