{"id":137878,"date":"2023-04-24T11:35:10","date_gmt":"2023-04-24T11:35:10","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=137878"},"modified":"2023-04-24T14:21:49","modified_gmt":"2023-04-24T14:21:49","slug":"world-economic-forum-recognizes-the-benefits-of-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining\/","title":{"rendered":"World Economic Forum Recognizes the Benefits of Bitcoin Mining"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The <a href=\"https:\/\/www.weforum.org\" target=\"_blank\" rel=\"noopener\">World Economic Forum<\/a> (WEF) is now vouching for Bitcoin Mining as it has recognized the benefits associated with it. Previously,<strong> the WEF was<\/strong> <strong>one of the biggest critics of Bitcoin and crypto mining due to its allegedly high energy consumption<\/strong>. But now, the authority is beginning to change its stance towards <a href=\"https:\/\/crypto-economy.com\/bitcoin-mining\/\" target=\"_blank\" rel=\"noopener\">Bitcoin mining<\/a>. However, a number of industry observers have mentioned how the move is erratic as the WEF has long been cautious of crypto.<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The World Economic Forum recently shared a <\/span><strong><a href=\"https:\/\/www.weforum.org\/videos\/this-start-up-catches-waste-methane-to-power-data-centres\" target=\"_blank\" rel=\"noopener\">video<\/a><\/strong><span style=\"font-weight: 400\"> that talks about how a number of firms,<strong> such as Crusoe Energy, are efficiently able to mitigate waste and emissions that harm the environment<\/strong>. Crusoe Energy is a Bitcoin mining firm that resorts to the use of waste methane to power its farms.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The CEO of Crusoe Energy, Chase Lochmiller talked about flaring and the ways it can be used. <strong>Flaring either happens in oil fields and landfill sites where there is an excess of waste steam or gas.<\/strong> The gas is a by-product of oil production or decomposition from landfills.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Lochmiller talked about eliminating natural gas flaring and added,<\/span><\/p>\n<p style=\"text-align: center\"><i><span style=\"font-weight: 400\">\u201cBy doing that, not only do we create a massive emission reduction from this previously wasted source of energy, but we can also product ultra-low-cost computing infrastructure by harnessing this otherwise stranded form of energy.\u201d\u00a0<\/span><\/i><\/p>\n<h2 style=\"text-align: left\"><span style=\"font-weight: 400\">The Crypto Community\u2019s Reaction to the WEF\u2019s Positive Stance Toward Bitcoin Mining<\/span><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-137880 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/04\/wef.jpg\" alt=\"The Crypto Community\u2019s Reaction to the WEF\u2019s Positive Stance Toward Bitcoin Mining\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/04\/wef.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/04\/wef-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/04\/wef-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">It is still a matter of conjecture of how much renewable energy is used for Bitcoin (BTC) mining. <strong>Many analysts believe that Bitcoin mining uses approximately 52.6% renewable energy<\/strong>. Despite the crypto community openly lauding the recognition of the World Economic Forum on Bitcoin mining, <strong>it is important to know that the WEF was reluctant to use Bitcoin\u2019s name in the video.\u00a0<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">It was suggested that the WEF was not allowed to mention Bitcoin because of its previous stance, which also includes changing BTC\u2019s proof-of-stake. However, renowned names, <strong>like Michael Saylor <\/strong><\/span><strong>acknowledged<\/strong><span style=\"font-weight: 400\"><strong> WEF\u2019s admiration of Bitcoin mining<\/strong>.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Even the <a href=\"https:\/\/twitter.com\/wef?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@WEF<\/a> is recognizing the environmental benefits of Bitcoin Mining.  <a href=\"https:\/\/t.co\/kPnMIfyJpU\" target=\"_blank\">pic.twitter.com\/kPnMIfyJpU<\/a><\/p>\n<p>&mdash; Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1650220299311362048?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The video from World Economic Forum comes at a time when Bitcoin (BTC) is struggling in the crypto market. The video had no real effect on the trading price of the token. <strong style=\"font-weight: 400\">At the time of writing, <\/strong><strong>Bitcoin (BTC) slipped by 1.46% in the previous 24 hours, therefore pushing the trading price down to $27,291<\/strong>. The total market cap of Bitcoin (BTC) is currently $528 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The World Economic Forum (WEF) is now vouching for Bitcoin Mining as it has recognized the benefits associated with it. Previously, the WEF was one of the biggest critics of Bitcoin and crypto mining due to its allegedly high energy consumption. But now, the authority is beginning to change its stance towards Bitcoin mining. However, &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"World Economic Forum Recognizes the Benefits of Bitcoin Mining\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining\/#more-137878\" aria-label=\"More on World Economic Forum Recognizes the Benefits of Bitcoin Mining\">Read more<\/a><\/p>\n","protected":false},"author":22,"featured_media":137908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,84,74],"tags":[4609,4910,4882],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/137878"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=137878"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/137878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/137908"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=137878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=137878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=137878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}