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‘Bitcoin Miner Greenwashing,’ Claims American Environmentalist Group

source-logo  coinedition.com 03 February 2023 18:51, UTC

Environmental Working Group (EWG), the American activist group, has called Bitcoin Miners’ shift to nuclear power “greenwashing.” The Washington-based firm claims crypto mining operations, such as Cumulus Data, are falsely projecting their shift in energy utilization as environment-friendly.

“Technically, nuclear produces zero carbon emissions,” explains EWG. But, the organization clarifies that these miners use massive amounts of water to operate, creating dangerous radioactive waste.

Expressing their deep contempt for nuclear cryptomines, the environmentalists state, “Even one nuclear-powered bitcoin mine is too many.” Once the nuclear cryptomine is online, EWG believes Terawulf will be among the earliest to use the data center. Terawulf is one of the biggest bitcoin miners in the U.S.

Furthermore, EWG highlights a quote from Nazar Khan, Terawulf’s co-founder and chief operating officer: “We would love for it [nuclear power] to be the majority. . . . It’s a zero-carbon base-load resource, so in terms of how it fits into what we’re doing, it’s a wonderful resource to have.”

Adding to the list, Cumulus Data CEO Alex Hernandez reiterated these sentiments, saying, “We look forward to advancing our goal of solving the energy ‘trilemma’ which we define as the rapidly increasing consumer demand for zero-carbon, low-cost, and reliable electricity demand.”

However, EWG is not convinced and in its appeal to the public, Alex Formuzis, a spokesperson for the conservationist group states, “Using electricity from a nuclear plant is hardly a benefit to the environment, and bitcoin and its Wall Street apologists like Fidelity and Goldman Sachs know it.

This attempt at greenwashing can’t cover up bitcoin’s long history of relying on dirty sources of electricity for profit.

Nevertheless, the eco-activist firm is not opposed to crypto mining alternatives such as proof-of-stake, which Ethereum has adopted. EWG suggests Bitcoin follow Ethereum’s lead and make a code switch that will dramatically lower its electricity use and the high financial burden that comes with it.