Partner/Guest article

CryptoScene wants to make the switch to green

Crypto scene shifts towards environmental friendliness

The world of crypto miners represents a turning point, because many of the
are actively looking for ways and means to reduce their energy-guzzling
supplying computer farms with environmentally friendly energy
and thus escape the image of climate monsters.
zero emissions, climate neutrality and renewable energies were the focus until
not particularly high on the crypto industry's list of priorities.
up; quite the opposite. However, a change in values is currently taking place,
One could speak of a turning point in some areas. The blockchain
company, "Argo Blockchain" built right next to its latest
Mining farm built its own wind power plant and thus created a -
largely - climate-neutral site. Ayhan Benzer, himself
a blockchain and crypto luminary welcomes this cultural change:
"It's like a dream, you generate value and that with your
own, climate-neutral fingerprint! Money is earned up front and
further back you create electricity out of the wind!"

Cryptomining but emission-free

The loud criticism from environmental activists and politicians has raised awareness
in the cryptocurrency industry has developed that the familiar view in
question, namely that the coin-mining computers are very
are harmful to the climate. The five largest listed mining companies
companies are now building or operating their own
Systems for renewable energies, whether with hydropower, solar power
or wind energy. Their in-house Pubic Relation areas
are now exploiting this and claiming that the crypto miners
now make a significant contribution to the emission-free
generate. Not least the public criticism from Elon Musk of the
species, they are irresponsible in their greed for coins, that they
electricity generated from fossil fuels.
Why is electricity consumption so high?
In the past, a simple laptop or home PC was sufficient to process the
and to mine coins. In the meantime, powerful
computers day and night, solving the complex mathematical problems of
transactions and challenges per second. This is how new
Coins - as a reward - are generated. In this context
ever larger PC farms emerged because the miners, faster and
wanted to generate more coins. The power consumption is now
around 2,000 kilowatt hours of electricity. By comparison, a household with

of a person has an average annual consumption of 1,300
kilowatt hours.
Where does the electricity come from?
Some crypto-enthusiasts are going down the route of using their PC mines with
electricity supply the way of fossil fuels. According to a
study by the magazine "Joule", the crypto industry is responsible for around 65
megatons of carbon dioxide per year. Because the
Companies use both natural gas and natural gas-fired power plants to
or coal-fired power plants, and sometimes they deliberately choose
next to a waste incineration power plant in order to benefit directly. The
Bitcoin network is from 42 percent (fossil fuels in 2020)
to 25 percent (redistribution to renewable energy sources in the year
2021) has fallen. One of the biggest polluters in the
world, the People's Republic of China, is uncompromisingly opposed to server and
PC farms and kicked them out of their country.
"China has cracked down very hard on the coin mines and has
thrown out of the country by those who use favorable hydropower as a
energy sources. Because the aim is, of course, to make the computers run smoothly,
to run for 24 hours, regardless of lulls or
cloudy days," says Benzer.
Profit maximization at any price

"Capitalism likes to seduce us into constantly and constantly
to maximize profits. But since Elon Musk has been paying Tesla for the
with Bitcoin, the change in value was initiated, because when
Musk was a fan of Bitcoin in the early days, so strong today is
his criticism of environmental pollution," says Ayhan Benzer from the
Elon Musk wanted his environmentally friendly and sustainable car brand
Do not bring Tesla anywhere near polluters and thus
suffer image losses. Between Musk and some top managers of the
crpto industry were subsequently discussed and the latter settled on
a rethink and a cultural change. The industry itself has
subsequently founded the "Bitcoin Mining Council", a forum for the
industry to develop ideas and coordinate environmental strategies.
"TeraWulf" a Council member, for example, has committed to more
to work with more than 90 percent renewable energies.
Ayhan Benzer, Managing Director of SEO-Studio longtime autodidact
around Bitcoin and crypto: "Everyone in the industry is talking about
in detail about environmental awareness and a climate-neutral footprint.

Texas becomes a crypto mecca

The topic has absolutely permeated the industry and the caesura
initiated, even if the listed companies are somewhat reluctant to do so.
difficult, as stakeholders often see things differently. This is illustrated by
"Sangha system" from Illinois, which has half of its
energy requirements on fossil fuels."
Where is the journey going
Texas is increasingly becoming a crypto mecca. In the meantime
more than 24 well-known companies are based there. The
The state and its electricity supplier are enticing companies with
horrendous discounts when electricity consumption in the country rises. Argo
says herself that she was impressed by the attractive offers in Texas and the
abundant wind and solar energy.
How do energy suppliers view the crypto market
"I don't think the energy suppliers will see the crypto market as a
reliably or seriously. Companies often lack
a credit profile that makes long-term contracts possible. The
Furthermore, the crypto industry should not focus on energy suppliers.
but to build up its own energy supply in parallel,
based on sustainability and which utilizes wind, water and the sun.
uses. There are also new systems that use less energy.
consume. It is true that other currencies are then involved in detail
than Bitcoin, but the consumption for the creation of a coin is also
significantly lower. We are talking here about 'proof of stake', which is only
0.01 percent of the energy that would otherwise be required",
Managing Director and Kypto Influencer Ayhan Benzer explains the