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Swedish Central Banks Trim Bitcoin Mining, Citing Rampant Energy Usage According to Cointelegraph
Swedish central banks prune Bitcoin mining, citing rampant energy use
Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the central bank of Sweden Debate consumes a lot of energy (BTC) and cryptocurrency mining should be banned.
Sweden’s central bank, known as the Riksbank, is the oldest central bank in the world. In a damning report titled “Cryptocurrencies and Their Impact on Financial Stability,” the bank took a crack at PoW crypto mining. PoW mining uses energy-intensive data centers to solve puzzles to secure blockchains. The report states:
