The requests for a European “ban” on the main form of minting of bitcoins are increasing, also in light of the growing share of renewable energy dedicated to this process.
Now it is the vice-president of the European Securities and Markets Authority, Erik Thedéen, who argues that bitcoin mining has become a “national issue” for his native Sweden, and has warned that cryptocurrencies represent a risk for the achievement of the climate objectives in the Paris agreement given their environmental impact. The alarm is due to the minting method, because the ‘miners’ use data centers full of fast computers to solve complex puzzles and are rewarded with freshly minted coins. In the face of growing criticism, the ‘miners’ have increased the share of renewable energy, which is now a new problem. “We need to discuss the industry’s shift to more efficient technology,” Thedéen said, calling for intervention from Brussels.