Bitcoin mining has long been embroiled in controversy. From Greenpeace’s high-profile “Change the Code, Not the Climate” campaign to Alex DeVries’ exaggerated claims about Bitcoin’s growing “water footprint,” the media often portrays Bitcoin mining as an environmental disaster in the making. For the general public, who are genuinely concerned about environmental preservation but lack in-depth knowledge of Bitcoin mining, these narratives are alarming.
As a relatively young and seemingly complex industry, much of this misleading negative publicity sticks, while the significant societal benefits of Bitcoin mining are often ignored. This persistent fud has fueled a political crusade against Bitcoin mining, drawing in figures like Senator Elizabeth Warren, New York Governor Kathy Hochul, and even the European Central Bank (ECB).
Senator Warren has labeled Bitcoin mining a national security threat, Governor Hochul signed a law in 2022 banning mining operations that rely on carbon-based power, and the ECB recently described Bitcoin as an “unproductive, energy-intensive technology that lacks social value and presents an obstacle to the EU’s climate goals.”
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