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<ul class="summary-list"><li><keyword id="12062557" type="UNKNOWN" weightage="60" keywordseo="iran" source="Orion">Iran</keyword> is ordering authorized crypto-mining centers to shut down until March to prevent blackouts ahead of winter.</li><li>Bloomberg was first to report, citing Mostafa Rajabi Mashhadi, director of Iran Grid Management.</li><li>This is the second time this year Iran has ordered the centers to shut down. The first one was in May.</li></ul>Iran is ordering authorized crypto-mining centers to shut down until March 6 next year to prevent blackouts ahead of winter as the country's power plants struggle to provide power.<a href="https://www.bloomberg.com/news/articles/2021-12-28/iran-orders-crypto-mining-ban-to-save-power-amid-winter-crunch?srnd=cryptocurrencies" target="_blank" rel="noopener">Bloomberg was first to report</a>, citing Mostafa Rajabi Mashhadi, director of Iran Grid Management, the national power grid developer and operator. He is also the spokesman for Iran's power industry.This is the second time this year the Middle Eastern nation has ordered the centers to shut down. The first one was in <a href="https://markets.businessinsider.com/news/currencies/iran-bans-crypto-bitcoin-mining-electricity-demand-summer-surge-blackouts-2021-5">May</a> when Iran faced a series of blackouts due to higher than usual energy consumption during the summer season, compounded by drought and high temperatures. The order was lifted in September.The ban is said to free up 209 megawatts of power for consumption in the household sector, Mashhadi said, according to Bloomberg. <a href="https://www.businessinsider.com.au/category/bitcoin-mining?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Cryptocurrency mining</a> has <a href="https://markets.businessinsider.com/currencies/news/new-york-ny-bill-bitcoin-mining-environment-assessment-2021-5-1030386497?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">long been criticized</a> due to its heavy energy use and environmental impact. Various research, including a study from Cambridge University, <a href="https://cbeci.org/cbeci/comparisons" target="_blank" rel="noopener">has shown</a> that bitcoin mining around the world uses more energy each year than some entire nations.As such, Iranian authorities are also cracking down on illegal mining, which consumes more than 600 megawatts of electricity, Bloomberg reported. Other measures Mashhadi is promoting include switching off street lights and limiting electricity consumption in offices.

Iran is ordering crypto-mining centers to shut down for the 2nd time this year to prevent blackouts

<ul class="summary-list"><li><keyword id="41896" type="COUNTRY" weightage="60" keywordseo="Iran">Iran</keyword>'s Ministry of Industry has issued licenses to 30 <keyword id="6289215" type="UNKNOWN" weightage="60" keywordseo="Crypto-Mining">crypto mining</keyword> operators. </li><li>Earlier this year, the country banned <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> mining for the summer due to energy shortages.</li><li><keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">Cryptocurrency</keyword> mining has been criticized for its environmental impact and energy consumption. </li></ul>The Iranian Ministry of Industry has issued licenses to 30 crypto mining operators despite announcing a blanket ban on mining operations due to energy shortages earlier this year, the <a href="https://financialtribune.com/articles/business-and-markets/109155/30-cryptomining-units-have-license">Financial Tribune</a> first reported. The newly licensed crypto miners are spread across the country, with only one of them being situated in the country's capital Tehran, while six are located in the Semnan province.In May the <a href="https://markets.businessinsider.com/currencies/news/iran-bans-crypto-bitcoin-mining-electricity-demand-summer-surge-blackouts-2021-5-1030467308">government issued a ban on crypto mining</a> until mid-September after a series of blackouts that were linked to the energy intensive process. Drought and high temperatures have increased electricity demand and are expected to continue throughout the summer months. Crypto mining is an energy-intensive process, as each transaction, or new purchase, requires data blocks to be validated and added to the public blockchain networks that cryptocurrencies operate on. Mining machines often require significant cooling as they work to manage this process nonstop, and critics claim that the energy used often comes from fossil fuels. The sum of the power produced by mining machines is referred to as the hash rate. The environmental impact of crypto mining is one of the reasons for China's crackdown on this process. The country has historically been the biggest contributor to the hash rate, accounting for over 65% of crypto mining according to the <a href="https://cbeci.org/mining_map">Cambridge Center for Alternative Finance.</a> But the Chinese government has taken a series of steps recently to limit crypto miners' activity, including banning them from operating in some regions, <a href="https://markets.businessinsider.com/currencies/news/bitcoin-mining-china-price-crypto-regulation-glassnode-2021-6-1030547552">causing the global hash rate and trading activity to drop</a>. The government has said this is part of its net zero strategy. <a href="https://cbeci.org/mining_map">Cambridge Center for Alternative Finance</a> data shows that Iran is the sixth largest crypto mining hub in the world, accounting for just under 4% of the global hash rate. Low electricity prices and tight restrictions on foreign currencies make crypto mining an attractive source of income in the country, where many citizens struggle to access the financial system. The majority of crypto miners in the country allegedly operate under the radar and do not possess licenses. President Hassan Rouhani claimed this applies to around 85% of crypto miners, <a href="https://www.reuters.com/technology/iran-bans-cryptocurrency-mining-4-months-amid-power-cuts-2021-05-26/">Reuters</a> reported. Last week, authorities seized 7,000 crypto mining machines from illegal operators as they continue to crack down on underground crypto activities.

Iran has issued 30 crypto mining licenses despite a ban on mining this summer due to energy shortages

<ul class="summary-list"><li><keyword id="12004262" type="UNKNOWN" weightage="60" keywordseo="crypto-mining" source="Orion">Crypto mining</keyword> could pose power supply issues for US public utilities, <keyword id="12224692" type="UNKNOWN" weightage="60" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword> said.</li><li>The mining process is highly energy intensive and can increase a utility's electric load, Fitch said.</li><li>The US is now the biggest <keyword id="11971141" type="UNKNOWN" weightage="60" keywordseo="bitcoin-mining" source="Orion">bitcoin mining</keyword> hub in the world.</li></ul><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> mining in the United States poses a risk to the power supply to public utilities if not mitigated, <a href="https://www.fitchratings.com/research/us-public-finance/crypto-mining-poses-challenges-to-public-power-utilities-24-01-2022">said Fitch Ratings</a> on Monday. The ratings agency said the significant amount of power mining operations require could considerably increase a utility's electricity load. Crypto mining is a process whereby powerful computers solve complex calculations and receive tokens, or fractions of a token, as a reward. But it is hugely energy intensive. The US is the biggest miner of <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>, the largest cryptocurrency by market capitalization. The US accounted for<a href="https://ccaf.io/cbeci/mining_map"> more than 35%</a> of the world's bitcoin hashrate, a measure of the mining network's computing power, in mid-2021. The enormous amounts of energy crypto mining produces led to a US House <a href="https://www.bloomberg.com/news/articles/2022-01-20/bitcoin-mining-s-hearing-in-u-s-house-questions-its-power-usage">subcommittee hearing</a> on January 20. One House representative said the <keyword id="12040003" type="UNKNOWN" weightage="60" keywordseo="energy-consumption" source="Orion">energy consumption</keyword> of the bitcoin mining process was <a href="https://www.bloomberg.com/news/articles/2022-01-20/bitcoin-mining-s-hearing-in-u-s-house-questions-its-power-usage">"deeply concerning"</a>, according to Bloomberg.Fitch Ratings said utilities with "excess capacity must evaluate the opportunity costs and benefits of a new large crypto load". The agency also mentioned that "crypto mining operations typically bring in very little additional economic benefits in the form of jobs or ancillary business to a local economy."Fitch said crypto mining operations are price-sensitive and risk quickly closing if they are unviable, which means utilities may face non-payment. It called crypto mining "volatile and unregulated" in nature.Utilities can protect themselves and limit their risk by "restricting the scope of crypto mining operations in their service area or by defining their power procurement commitments," the agency said.The US overtook China as the world's largest crypto mining center last year after Beijing <a href="https://www.cnbc.com/2021/10/13/us-beats-china-as-the-number-one-destination-for-bitcoin-miners.html">banned</a> all mining operations last year, in part due to the carbon footprint of the mining process itself.Russia's central bank has also recently proposed <a href="https://www.reuters.com/business/finance/russian-cbank-proposes-banning-cryptocurrencies-crypto-mining-2022-01-20/">banning</a> crypto mining in the country due to its negative impact on the country's environment and financial systems.A <a href="https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html">New York Times report</a> in September found bitcoin mining consumed around 91 terawatt-hours of electricity per year, more than some countries and almost 0.5% of all electricity used worldwide.

US crypto mining poses a supply risk to public power utilities, according to Fitch Ratings

<ul class="summary-list"><li>Blockchain analysis firm Glassnode said a 'seismic shift' is taking place in Chinese <keyword id="6289215" type="UNKNOWN" weightage="60" keywordseo="Crypto-Mining">crypto mining</keyword>. </li><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword>'s price could slide further as a result, as prices and activity on the market weaken. </li><li>Investor behaviour now is comparable to that around 2017's bitcoin peak, the report said. </li></ul>Blockchain analysis firm Glassnode <a href="https://insights.glassnode.com/the-week-on-chain-week-25-2021/">said</a> a "seismic shift" is underway in Chinese <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> mining as the government continues its crackdown, which is putting pressure on bitcoin firms to liquidate their investments and could therefore drag the cryptocurrency's price lower. China is the biggest crypto miner in the world and accounts for around 65% of the bitcoin hash rate production according to the <a href="https://cbeci.org/mining_map">Cambridge Centre for Alternative Finance</a>. The Chinese government has however been cracking down on crypto, and especially mining, as the process is highly energy intensive and interferes with the country's emissions reduction goals. This has led to a series of tightened regulations around crypto investing and mining, including ones that <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-china-crypto-miners-halt-operations-2021-5-1030458013">forced miners to halt operations last month</a>, and bans on <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">bitcoin mining</keyword> in some Chinese provinces. "As the Chinese mining industry comes to grips with the logistical challenges of relocating, migrating or selling their hardware and facilities, some are likely to liquidate a portion of their accumulated BTC treasuries." Glassnode said in their report, explaining that this could mean some miners pull out of the industry completely. The hash rate has fallen by 16% over the past two weeks and thereby returned to similar levels to 2020, Glassnode found. At the same time, miners have distributed tokens at a much slower rate over the past two weeks. Transaction activity has also slowed down. "Bitcoin active addresses have fallen by 24% from the generally sustained peak of 1.16M from March to early May. The current activity of 884k addresses was last seen this time last year." Glassnode analysis found. Bitcoin soared in popularity and price at the end of 2020 and has continued to do so throughout 2021. Bitcoin's price peaked in mid-April at $64,804.72 and has declined around 47.5% since to around $34,000. It's still up by around 250% compared to where it was this time last year.It is the largest cryptocurrency by market capitalization, but is also often regarded as the most environmentally damaging. Each transaction or new purchase adds to the blockchain network it is based on - this mining process requires high levels of energy. Critics argue that on top of the consumption, the energy used is often not from renewable sources. Looking ahead, Glassnode noted that current investor behaviour is similar to that around the bitcoin peak of 2017 - after which the cryptocurrency dropped from close to $20,000 to below $3,000. More recently purchased coins are being traded at a faster rate compared to older holdings - if the latter start moving, this could mean bitcoin is in trouble, Glassnode said. But more time will have to pass before definitive conclusions can be drawn. "The entire market appears to be waiting for the next move, and few are willing to make the first one."

A 'seismic shift' in Chinese crypto mining is underway and bitcoin could slide further as a result: Glassnode

<ul class="summary-list"><li>Greenidge Generation has drawn the ire of several environmental organizations for its massive energy consumption.</li><li>The groups called on NY Gov. Kathy Hochul to block its permit to operate.</li></ul><ul class="summary-list"><li>The signatories highlighted how this will jeopardize the state's progress in reducing greenhouse gas emissions.</li></ul>Greenidge Generation's power plant in New York that's mining <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> has drawn the ire of several environmental businesses and organizations, all of whom recently urged Governor Kathy Hochul to block its permit to operate."New York must halt this move to turn old fossil-fuel-powered plants into <keyword id="12004262" type="UNKNOWN" weightage="60" keywordseo="crypto-mining" source="Orion">crypto mining</keyword> centers until a full environmental assessment is conducted on the impact that these operations will have on greenhouse gas emissions, as well as the state's air and water quality," according to a <a href="https://earthjustice.org/sites/default/files/files/cryptominingmoratoriumletter_governorhochul10_13_2021.pdf">letter dated October 13</a> addressed to the governor with more than a hundred signatories.The letter cited how a <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> mining expansion in the state could "drastically undermine New York's climate goals established under the Climate Leadership and Community Protection Act." The <a href="https://apnews.com/article/bitcoin-mining-new-york-power-plant-climate-change-516dbd319394a6a30f83d94947abad20">Associated Press</a> was first to report.New York State Commissioner Basil Seggos also took to <a href="https://twitter.com/BasilSeggos/status/1435724739352449025?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1435724739352449025%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fnew-york-businesses-ask-governor-to-deny-permits-for-crypto-miningning">Twitter</a> to call out Greenidge saying it "not shown compliance with New York's climate law."<keyword id="11971141" type="UNKNOWN" weightage="60" keywordseo="bitcoin-mining" source="Orion">Bitcoin mining</keyword> - the process whereby computers solve complex puzzles to verify transactions and are rewarded with new coins - has long been criticized for its intensive energy consumption.The signatories raised issues with resurrecting defunct fossil fuel power plants, highlighting how this will jeopardize the state's progress in reducing greenhouse gas emissions.As such, they are demanding the governor deny the renewal of the plant's air quality permit. Included in the letter is also a request to deny the permit of the Fortistar North Tonawanda Facility, a natural gas-burning power plant.Greenidge maintained it is compliant with all laws. New York has yet to make a determination on its permits.<h2>How Greenidge started bitcoin mining</h2>Greenidge Generation began in 1937 as a coal-fired power plant, according to its <a href="https://greenidge.com/our-story/">website</a>. A corporation purchased the plant in 1999 and continued to operate it until 2011.Then in 2014, a group of private investment funds acquired Greenidge and converted it to cleaner-burning natural gas, allowing it to provide electricity to power up to 20,000 homes and businesses in 2020 alone, the website added. In 2020, it started commercially mining bitcoin. Today, the company claims to be the "first and only carbon neutral, vertically integrated power generator and bitcoin miner of scale" in the US. Greenidge in the third quarter of 2020 said in a <a href="https://www.prnewswire.com/news-releases/greenidge-generation-announces-selected-preliminary-operating-results-for-third-quarter-2021-301391673.html">statement</a> it mined 729 bitcoins and had approximately 15,300 miners in operation.While there are many opponents of the facility, it does have some advocates. This includes Chairman of the Yates County Legislature Douglas Paddock who, in a public hearing testimony last week, said the plant has brought 45 high-paying jobs to the area and has made a "significant contribution" through tax payments and capital investments, the AP reported. Around the US, crypto mining plants have and will continue to rise, especially following China's wide-ranging digital asset ban. The US, in fact, has already <a href="https://markets.businessinsider.com/news/currencies/us-biggest-bitcoin-mining-hash-rate-china-cryptocurrency-energy-consumption-2021-10">unseated the Asian nation</a> as the world's biggest bitcoin miner, according to data from the <a href="https://cbeci.org/mining_map" target="_blank" title="Link to Cambridge Bitcoin Electricity Consumption Index" rel="noopener">Cambridge Center for Alternative Finance</a> as miners migrate out of China.

A New York power plant that mines bitcoin faces big test in governor's office

<ul class="summary-list"><li>Russia is considering slapping special energy tariffs on cryptocurrency miners, <a href="https://cointelegraph.com/">CoinTelegraph</a> reported.</li><li>The energy minister said he is exploring ways on how to distinguish energy used for <keyword id="12004262" type="UNKNOWN" weightage="60" keywordseo="crypto-mining" source="Orion">crypto mining</keyword>. </li><li>In June, Beijing ordered bitcoin miners in the country to shut down, triggering an exodus from China.</li></ul>Russia is considering slapping special energy tariffs on cryptocurrency miners amid a wave of migration following China's recent wide-ranging industry ban, <a href="https://cointelegraph.com/">CoinTelegraph</a> reported. Energy Minister Nikolai Shulginov on Wednesday said he is exploring ways to distinguish energy consumption for cryptocurrency mining. "We can't let miners capitalize on the situation at the expense of low residential electricity tariffs," he said, according to <a href="https://cointelegraph.com/">CoinTelegraph</a>, which cited local news agency <a href="https://www.rbc.ru/economics/14/10/2021/616722b59a7947b3fa5a45e6">RBC</a>. "In order to maintain the reliability and quality of power supply, we believe it is necessary to prohibit miners from consuming electricity at residential tariffs."An exodus of miners from China began in June, when Beijing ordered <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-btc-china-mining-crackdown-sichuan-cryptocurrencies-ether-2021-6?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">bitcoin miners operating in the country to shut down</a>. Right after that, nearly half of the bitcoin network went dark as miners looked to migrate. Then in September, China <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-china-ban-cryptocurrency-transactions-crackdown-2021-9?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">banned all cryptocurrency transactions</a>. As a result of the clampdown, countries such as the US, Kazakhstan, and Russia, have seen a rise in cryptocurrency mining activity. The US has even <a href="https://markets.businessinsider.com/news/currencies/us-biggest-bitcoin-mining-hash-rate-china-cryptocurrency-energy-consumption-2021-10">unseated China</a> as the world's biggest bitcoin miner, according to the <a href="https://cbeci.org/mining_map" target="_blank" title="Link to Cambridge Bitcoin Electricity Consumption Index" rel="noopener">Cambridge Center for Alternative Finance</a>.China, at one point, accounted for as much as 75% of the global hash rate thanks to an abundance of coal and hydro plants that kept electricity prices low.

Russia is mulling energy tariffs for crypto mining amid a wave of migration following China's ban, report says

<ul class="summary-list"><li><keyword id="41896" type="COUNTRY" weightage="60" keywordseo="Iran">Iran</keyword> has banned <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> mining over the summer ahead of an anticipated surge in <keyword id="159873" type="PERSON" weightage="60" keywordseo="electricity-demand">electricity demand</keyword>, Bloomberg reported.</li><li>The ban is effective immediately until September 22.</li><li>Approximately 4.5% of all <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">bitcoin mining</keyword> occurs in Iran, according to Elliptic.</li></ul>Iran has banned cryptocurrency mining over the summer ahead of an anticipated surge in electricity demand, <a href="https://www.bloomberg.com/news/articles/2021-05-26/iran-bans-crypto-mining-to-keep-the-lights-on-over-summer">Bloomberg first reported</a>. The country the past few days has experienced widespread <keyword id="4330279" type="PERSON" weightage="60" keywordseo="blackouts">blackouts</keyword> due to higher than usual energy consumption, compounded by drought and high temperatures, according to <a href="https://www.arabnews.com/node/1863336/middle-east">Arab News</a>.While cryptocurrency mining was highlighted, other electricity-intensive activities were also prohibited, President Hassan Rouhani announced on state television Wednesday."The ban on the mining of cryptocurrencies is effective immediately until September 22," Rouhani said as <a href="https://www.reuters.com/technology/iran-bans-cryptocurrency-mining-4-months-amid-power-cuts-2021-05-26/">Reuters reported</a>. "Some 85% of the current mining in Iran is unlicensed." <a href="https://www.businessinsider.com.au/category/bitcoin-mining">Cryptocurrency mining</a> has <a href="https://markets.businessinsider.com/currencies/news/new-york-ny-bill-bitcoin-mining-environment-assessment-2021-5-1030386497">long been criticized</a> due to its heavy energy use and environmental impact. Various research, including a study from Cambridge University, <a href="https://cbeci.org/cbeci/comparisons" target="_blank" rel="noopener">has shown</a> that bitcoin mining around the world uses more energy each year than some entire nations.Mining cryptocurrencies, a complex process that includes validating data blocks to include in the public ledger, is power-intensive and often relies on fossil fuels. Approximately 4.5% of all bitcoin mining occurs in Iran, according to blockchain analytics firm <a href="https://www.elliptic.co/blog/how-iran-uses-bitcoin-mining-to-evade-sanctions">Elliptic</a>.<div type="image" title="Screen Shot 2021 05 26 at 9.01.11 AM" height="443" width="591" msid="82975545" hostid="261"></div>The fact that the country has <a href="https://www.businessinsider.com/currency-crisis-impoverishes-iranians-strains-economic-defenses-2020-7">restricted access to foreign currencies</a> also makes cryptocurrency mining more attractive.The ban however raises concerns about pushing the practice -including those licensed-into the black market. Iran in the past has launched a crackdown on illegal miners, accordin to <a href="https://www.bloomberg.com/news/articles/2021-05-21/iran-enlists-its-spies-to-hunt-down-power-hungry-bitcoin-miners">Bloomberg</a>.

Iran bans crypto mining for the summer ahead of peak electricity demand

<ul class="summary-list"><li>Greenpeace and others have launched a campaign to encourage <keyword id="11930891" type="UNKNOWN" weightage="60" keywordseo="bitcoin-miners" source="Orion">bitcoin miners</keyword> to change how new coins are created. </li><li>Bitcoin uses a "proof-of-work" mining process that uses excessive amounts of energy, campaigners said Tuesday.</li></ul>Greenpeace and other climate groups launched a campaign Tuesday to tackle the excessive energy use in bitcoin mining by encouraging a change in how new coins are created. The goal of the "Change the Code Not The Climate" campaign is to remake the code underpinning bitcoin mining, moving it away from a proof-of-work process or reinventing this method to make it less energy intensive. "Bitcoin uses an outdated technology called proof-of-work to validate transactions. This proof-of-work method, at least as it currently operates, uses massive amounts of energy, and thus is a huge source of climate pollution," campaigners said in <a href="https://www.cleanupbitcoin.com/">a statement</a>.They believe that as bitcoin's price rises, so too will the amount of energy consumed, as the two are intrinsically linked at present. Chris Larsen, the co-founder of Ripple, has pledged $5 million to finance the campaign. Meanwhile, climate activist groups including Greenpeace USA and the Environmental Working Group will coordinate the effort with local organizations.China banned <keyword id="12004262" type="UNKNOWN" weightage="60" keywordseo="crypto-mining" source="Orion">crypto mining</keyword> in May, and the bulk of the world's <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> mining now takes place in the US, where fossil fuels are used to power the industry. Proof-of-work requires high-powered computers to compete to solve puzzles in order to create new coins, and that competition can result in excessive energy use. The campaign argues that a simple code change could potentially reduce bitcoin's energy use by 99.9%."If only 30 people — the key miners, exchanges, and core developers who build and contribute to bitcoin's code — agreed to reinvent proof-of-work mining or move to a low-energy protocol, bitcoin would stop polluting the planet," campaigners said.Ripple's Larsen said on Twitter he is supporting the campaign because the time for change is now, as institutional investors flood into the crypto market.But moving to proof-of-stake from a proof-of-work process is not easy, going by the example of ethereum. Bitcoin's closest rival has been battling with the shift, but has been hit with delays.While Vitalik Buterin <a href="https://markets.businessinsider.com/news/currencies/ethereum-blockchain-technology-crypto-cryptocurrency-ether-eth-vitalik-buterin-markets-2022-3">announced</a> last month that the merge — which will see ethereum move to a proof-of-stake consensus mechanism — is only months away, it has been seven years in the making. Change the Code Note the Climate faces a tough road in its mission to address some of the climate issues surrounding bitcoin and proof-of-work mining, not least the fact that bitcoin mining is a $15 billion dollar industry, according to The Block Research. The organizers plan to take legal action against proposed mining sites, and to lobby bitcoin proponents to call for a code change."In this world, with all these smart people, there has got to be a better solution," Larsen said.Read more: <a href="https://www.businessinsider.com/investing-strategy-how-to-play-the-yield-curve-inversion-goldman-2022-3" target="_blank" rel="noopener noreferrer">Goldman Sachs warns 'yield curve inversion' is on the way but this time it could be different — We lay out what this means, why it can be a threat to your investments and what you can buy to profit from it</a>

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Iran is ordering crypto-mining centers to shut down for the 2nd time this year to prevent blackouts

Isabelle Lee

Iran has issued 30 crypto mining licenses despite a ban on mining this summer due to energy shortages

Sophie Kiderlin

US crypto mining poses a supply risk to public power utilities, according to Fitch Ratings

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A 'seismic shift' in Chinese crypto mining is underway and bitcoin could slide further as a result: Glassnode

Sophie Kiderlin

A New York power plant that mines bitcoin faces big test in governor's office

Isabelle Lee

Russia is mulling energy tariffs for crypto mining amid a wave of migration following China's ban, report says

Isabelle Lee

Iran bans crypto mining for the summer ahead of peak electricity demand

Isabelle Lee

Campaigners call for bitcoin miners to drop 'proof of work' to reduce their excessive use of energy

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