Crusoe Energy, a Colorado-based mining and alternative energy firm, is tackling Bitcoin’s climate impact in a previously unseen manner, as per a feature on tech publication TechCrunch today. The firm has raised $128 million from investors for its cause.
Bitcoin’s massive energy usage stems from the process of ‘mining,’ which sees the use of elaborate computing systems to validate transactions on the network in turn of Bitcoin ‘rewards’ in return.
This process—called ‘Proof of Work’ and true for any PoW coins like Ethereum or Monero—has gained notoriety in the past few years for the high energy usage and byproducts that supposedly harm the environment.
But firms like Crusoe have set out to repair that damage, even as some argue that energy and climate concerns are overstated.
We’ve been astonished at @CrusoeEnergy ‘s execution the last few years. They’re building a generationally important company in combating methane emissions via a novel cryptocurrency mining &
