According to the head of Ripple, the extraction of Bitcoin and Ethereum takes too much electricity.
The head of Ripple called the mining of Bitcoin and Ethereum harmful to the climate: Details
The head of Ripple, Brad Garlinghouse, called the mining of Bitcoin and Ethereum harmful to the climate due to the fact that it consumes too much electricity. This, according to Ripple CEO Brad Garlinghouse, should worry activists who are concerned about climate change. According to the head of Ripple Brad Garlinghouse, it is unbelievable that cryptocurrency mining is not on the agenda on this topic.
A statement by Ripple CEO Brad Garlinghouse was a response to a study conducted by PWC blockchain expert Alex de Vries. According to U.Today, De Vries calculated that Bitcoin mining now consumes more electricity than Chile. His hash rate continues to grow. Another shocking statistic is that the leading cryptocurrency is currently generating more electronic waste than Luxembourg. Nearly 98 percent of all existing miners are expected to landfill.
Bitcoin’s extravagance has long been a concern. It is worth noting that some environmental activists have already reached the point that they offered to take away all the assets from their miners in order to pay “climate reparations”. Therefore, the statement of the head of Ripple is sufficiently substantiated.