In its publications on the X social network, Greenpeace stated that due to the increase in ETF prices, the electricity needs of miners will also increase, which will lead to more resource consumption and, as a result, an increase in carbon dioxide. Emissions from fossil fuels.
The organization called on cryptocurrency companies to change their current mining methods and invest in the development of renewable energy sources. Critics of its position have challenged Greenpeace on this issue, explaining that companies mining BTC have invested sufficiently in renewable energy.
“As the price of Bitcoin increases, so does its environmental impact. Miners use more electricity […]. This electricity is produced predominantly from fossil fuels, leading to increased carbon dioxide emissions and water consumption,” says Greenpeace.
Source: Ferra
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