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A popular #bitcoin #ethereum narrative:
> it's all powered by surplus electricity from renewables
I'd love to be proven wrong, but:
1) It's true that surplus energy from variable renewables *can* be burned by BTC mining
2) There's no evidence it's actually is being done
3) 70% mining is done in China, where variable renewables were 3% in 2018
Actually, I was pointed to a very interesting report describing renewable use in BTC mining as being quite high, and even following regional variations in renewable supplies
https://coinshares.com/assets/resources/Research/bitcoin-mining-network-june-2019-fidelity-foreword.pdf