b'
Bitcoin is a novel form of currency that bypasses banks, credit card companies and governments. But as Reveal\\u2019s Elizabeth Shogren reports, the process of creating bitcoin is extremely energy intensive, and it\\u2019s setting back efforts to address climate change. Already, bitcoin has used enough power to erase all the energy savings from electric cars, according to one study. Still, towns across the United States are scrambling to attract bitcoin-mining operations by selling them power at a deep discount.
\\n\\nBitcoin\\u2019s demand for electricity is so great that it\\u2019s giving new life to the dirtiest type of power plants: ones that burn coal. In Hardin, Montana, the coal-fired power plant was on the verge of shutting down until bitcoin came to town. The coal that fuels the bitcoin operation is owned by the Crow Nation, so some of the tribe\\u2019s leaders support it. But in just one year, the amount of carbon dioxide the plant puts into the air jumped nearly tenfold.
\\n\\nBitcoin\\u2019s huge carbon footprint has people asking whether\\xa0cryptocurrency can go green. Bitcoin advocates say it can switch to renewable energy. Others are instead developing entirely new types of cryptocurrency that are less energy hungry. Guest host Shereen Marisol Meraji talks with Ludwig Siegele, technology editor at The Economist, who gives his assessment of the challenges of making cryptocurrency environmentally friendly.
\\n\\nSupport Reveal\\u2019s journalism at Revealnews.org/donatenow\\xa0
Subscribe to our weekly newsletter to get the scoop on new episodes at Revealnews.org/newsletter