Elon Musk promotes Green Mining. About the concept
We all know that mining is an incredibly profitable way to make money in the digital industry. However, not many people know the harm of this occupation. Indeed, the work on processing transactions involves high-performance equipment, which, as you probably heard, consumes a lot of electricity. Thus, the balance of electricity use is upset. States are forced to invest more efforts in deforestation and maintaining power plants. The result is obvious harm to the environment. But entrepreneurs like Elon Musk are not ready to put up with such trends. Therefore, today Musk held a meeting with representatives of the community, where the issue of switching to “green mining” was raised. Next, we will discuss the meaning of this term and the potential of the new concept. So let’s get started.
Why mining is harmful to nature? What does Musk think?
To understand the problem, you need to remind you exactly how electricity is produced. The corresponding stations are responsible for everything. They are kind of like “electricity factories” that use a lot of generators. Each of which produces electricity. Of course, a power supply is required for stable operation. They often feel warm. Which is formed from the combustion of peat, oil shale, gas or fuel oil. And these compounds, when burned, release toxic gases into the atmosphere, destroying the ozone layer and accelerating the greenhouse effect.
But, as a rule, in most countries, electricity production does not have a serious impact on nature. Governments regulate the rate at which electricity is generated, but mining has changed everything. Still, it requires more current than the average rate. Due to this, the stations work more actively, burn fuel more actively and harm nature more actively.
We are talking about a fairly serious harm to the environment. Especially considering the growing popularity of standard cryptocurrency mining rigs. That is why the head of MicroStrategy (a company inextricably linked to the Blockchain) today convened a meeting, which was attended by Elon Musk. The billionaire proposed an initiative to carefully monitor the rate of energy being generated. The companies attending the meeting agreed to openly share their own electricity usage statistics. And this, at first glance, unambiguously positive and successful initiative has already received a dubious assessment in the community. Next, we will tell you how skeptics perceive this idea.
Will Musk’s suggestion work?
As a counterweight to the previously voiced theses, we will cite the position of the famous miner Marshal Long. This is one of the founders of modern mining, one of the first users of the Blockchain from Bitcoin. The man has been in the industry for a long time, so his opinion can be trusted. He believes that this initiative will not affect the environmental situation in any way. In his opinion, Musk’s proposal should be addressed to others, not ordinary miners. Yes, the billionaire has urged every blockchain user to use electricity responsibly.
And Marshal Long believes that such requests should be addressed to The Texas Blockchain Association. It is one of the largest blockchain companies. She has a huge amount of equipment at her disposal, and the total share in the hashrate of the first currency is about 15%. Thus, we can make a bold conclusion that the opinion of such a large structure will be decisive.
The initiative, as you know, is controversial. What do you think about the environmental impact of mining? Share your opinion in the comments and follow the crypto industry news with us. We publish only high-quality, interesting material. Thanks for attention. Good luck!