Linked: Kosovo bans cryptocurrency mining after blackouts
The amount of energy involved in cryptocurrency, blockchain and NFTs cannot be sustained.
Kosovo has banned the mining of cryptocurrencies to curb electricity use as it grapples with an energy crisis caused by soaring global prices.
Mining became popular in Kosovo when the price of electricity was low. Now it’s not, and the mining is a drain on the entire infrastructure.
How many other places have, or will soon be, in the same place soon? We have already had massive power issues in Texas and California in recent years. This is only going to get worse as these technologies continue to gobble up more and more energy.
This is a problem that Silicon Valley crypto-fans and newly invested celebs aren’t going to want to share, but it is reality.