A common mainstream media narrative is how bitcoin mining consumes a lot of coal-generated electricity, thereby fuelling climate change. Much less is said about electricity usage involving legacy, monopoly financial institutions like commercial banks.
This bias is confirmed by a recent study that has received worldwide coverage from an equally conflicted Press. In the study, researchers at University of Hawaii at Manoa examined how the rapid increase in the use of cryptocurrency like bitcoin would harm the climate. They came to the conclusion that in two decades, bitcoin mining could be pushing global warming above 2°C, becoming just as bad as the energy and transport industries.
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