Is Bitcoin bad for the environment?

Is Bitcoin bad for the environment?

We all know that Bitcoin has been bad for the pockets of some unfortunate investors (and good for others). But what about its impact on the environment? That’s one of the topics discussed by crypto investor and creative director Robin Barrow – and you may be surprised to hear the verdict.

Barrow was recently invited by renewable energy and energy efficiency consultancy Energy Point to speak about cryptocurrency and the environment. But first, a brief background on Barrow …

He started his creative career 23 years ago in the UK as a designer for a local newspaper company, before moving to the US in the early 2000s. He was soon making waves as a leader in the creative design world, making a name for himself working for companies, organisations, and public figures alike. He served as Microsoft’s senior art director for nearly three years from 2007, before going on to consult and work for numerous blue-chip companies, as well as creating his own businesses and start-ups along the way.

Barrow now spends his time helping companies as a consultant, partner, and/or investor. He has also invested heavily into cryptocurrencies and NFTs (even creating his own), diversifying his accrued wealth across multiple different investments. 

You can watch the intriguing video discussion between Barrow and Energy Point CMO & analyst Tyrese Garvie here:  https://youtu.be/wr-KPaHvJ-g

Last year there was a lot of talk about Bitcoin mining and the effect it has on the planet. The Guardian, for example, claims that up to 0,5% of the world’s electricity is being used to mine Bitcoin with computers and graphic cards. 

Barrow touches on this briefly: “Elon Musk stopped taking Bitcoin payments for Tesla, because it goes against the whole business model of him trying to be environmentally-friendly with Teslas, but also due to the fact that there is dirty energy usage to create Bitcoin mining. But that is being mitigated quite a bit by renewable energy.”

Further to this, Barrow spoke passionately about Bitcoin and cryptocurrency, assuring viewers that renewable energy is becoming one of the leading energy sources used by professionals to mine Bitcoin, while also calling out China and other nations for using mostly “dirty methods of energy” such as “coal and traditional sources like oil and gas”.

We think the video makes for fascinating viewing! What do YOU think? Is Bitcoin bad for the environment or not? Email your thoughts to jaco@charmont.co.za

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SHEQ Management

SHEQ MANAGEMENT is the definitive source for reliable, accurate and pertinent information to guarantee environmental health and safety in the workplace.
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