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Bitcoin Mining Isn’t Wasteful — It Creates Abundance

The mainstream media mistakenly portray bitcoin mining as wasteful.
“Bitcoin Mining isn’t wasteful” — an AI-generated image by DALL-E, OpenAI**To discuss bitcoin mining, one must first understand how it works: Proof-of-Work and the difficulty adjustment.
How Bitcoin Mining WorksBitcoin is a new type of money that uses a Proof-of-Work consensus mechanism to secure the network (SHA-256).
This market system creates new opportunities, such as using wasted flared gas for Bitcoin mining to reduce CO2 emissions.
Texas bitcoin miners responded by shutting off over 1,000 megawatts worth of bitcoin mining load, allowing for over 1% of total grid capacity to be pushed back to the grid.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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