Crypto mining consumes enormous amounts of electricity and has long been criticized as terrible for the planet.
Bitcoin currently consumes an estimated 150 terawatt-hours of electricity annually — more than the entire country of Argentina. Ethereum, the second largest crypto in the world (right behind Bitcoin), is making a big move called The Merge that has the entire community on edge.
What’s this merge... and why do I care?
“The Merge” refers to Ethereum shifting from a proof-of-work system to validate its blockchain transactions to proof of stake. This move will lower the total carbon emissions of Ethereum mining by 99%.
Go easy on your crypto-loving friends this week. The technical complexity of a successful merge risks many investors a ton of money.