How NOT to report on the carbon footprint of bitcoin and NFTs

Galaxiss (NFT) by Xenoliss. Licence: CC BY-NC 4.0

News request #1: Bitcoin mining contributes the same greenhouse gas emissions as Italy or the Czech Republic

The financiers of mining operations will insist on using the cheapest energy and so by definition it will be electricity that has no better economic use. Bitcoin then acts like an economic battery. What otherwise was of little value locally, is turned into an economic asset that can be used globally. Extremely flexible demand from miners can optimise the local supply and demand for electricity, which may accelerate the energy transition by improving the economics for new renewable projects.

Reporter #2: An NFT would drive 500 miles

End of story?

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