Faced with a sharp rise in energy consumption, Swedish authorities are calling on the European Union to ban “energy intensive” crypto mining.
Erik Thedéen, director of the Swedish Financial Supervisory Authority, and Björn Risinger, director of the Swedish Environmental Protection Agency, said cryptocurrency’s rising energy usage is threatening Sweden’s ability to meet its obligations under the Paris Climate Agreement.
Between April and August this year, the energy consumption of Bitcoin mining in the Nordic country rose “several hundred per cent,” and now consumes the equivalent electricity of 200,000 households, Thedéen and Risinger said.
In an open letter, the directors of Sweden’s top financial and environmental regulators called for an EU-wide ban on “proof of work” cryptocurrency mining, for Sweden to “halt the establishment” of new crypto mining operations and for companies that trade and invest in crypto assets to be prohibited from describing their business activities as environmentally sustainable.
- We Just Witnessed An Economic Sign That Hasn’t Happened Since The Peak Of The Great Depression In 1932
- 14 Videos That Will Make You Want To Scream Out “ARE YOU KIDDING ME?”
- It’s Now Undeniable That the Government Has Been Lacing Chicken Feed so That Chickens Stopped Laying Eggs
- The FDA Is Literally Demonic
- Michael Burry: ‘Sell’
- RUSSIA releases message for American Soldiers
- Top US Geostrategic Think-Tank RAND Corp Says the US Lost the Ukraine War and Should Surrender
- This Week’s New Dystopian Innovation Just Dropped
- Biden Documents Scandal Includes 1850 Boxes, Enough To Fill A Tractor Tailer, Plus 415 GB Of Eectronic Records
- The Collapse Of Faith In America
Views: 9