Bitcoin's Carbon Footprint: A Call to Arms for Banks and Asset Managers

As the global need for clean energy solutions and green practices grows, leading environmental organization Greenpeace has released a new report calling on banks and asset managers to influence bitcoin to address its significant pollution problem. “The report focuses on nine major financial institutions that provide the glue that holds the bitcoin ecosystem together,” says Joshua Archer, who leads the bitcoin campaign for Greenpeace USA. According to Archer, these financial giants have an important responsibility that they are not currently taking with the seriousness they deserve. They are the invisible pillars that hold the bitcoin network together, and their influence could be crucial in solving the cryptocurrency’s environmental problems. The institutions in question, which include industry giants such as BlackRock, Vanguard and JPMorgan Chase, collectively own controlling stakes in bitcoin mining companies worth more than $1.35 billion as of April 2023, according to the Greenpeace report. (From Rodney Holmes)

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