this post was submitted on 02 Feb 2024
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It's still wasted energy. If it wasn't used on bitcoins, it would have been used on other things - some of which had to be powered by fossil fuels.
How does that even make sense? Renewable is cheaper than burning petrol, of course there's a shortage.
I don't think you understand how the electric grid works if you say that wasting energy into creating heat is the way to go.