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Crypto miners are often criticized by regulators and activists for non-ecological activities. In this regard, profile manners began to turn more and more often to the so-called "green" initiatives.
Miners play a significant role in the digital asset industry. All Proof-of-Work networks, including Bitcoin, require energy-intensive computing processes to maintain the ecosystem. However, regulators constantly criticize crypto miners, pointing out that their activities cause irreparable damage to the environment.
According to experts, global mining consumes from 120 to 249 kWh per year. This is equivalent to the energy consumption of a number of countries, for example, Australia or Argentina. In this regard, many jurisdictions have already taken radical steps to reduce or completely ban mining. One of the most striking examples is China, where crypto mining is now legally prohibited. Although a couple of years ago, this country was the unofficial capital of the world of mining.
Regulatory pressure can pose a threat not only to the miners themselves, but also to coins operating within the framework of the Proof-of-Work consensus algorithm. That is why miners are trying to switch to renewable energy sources, for example, hydroelectric power plants, solar farms and wind turbines.
According to Global Bitcoin Mining Data, as of 2022, over 59% of crypto miners use renewable energy sources in their work.
Also, many specialists have begun to adhere to the concept of flexible demand for electricity, which can contribute to the planned transition of miners to a "green" economy. For example, crypto miners cease operations when the region's energy system is experiencing difficulties. It is worth noting that recently many American miners voluntarily stopped work during a winter storm that swept the continent.
