As the price of bitcoin has surged, the hidden costs of the cryptocurrency boom are becoming clearer.
Awareness of the environmental consequences of using a vast array of computer equipment to produce bitcoins has been rising. Bill Gates has been among those to flag concerns, pointing out that so-called bitcoin mining uses more electricity per transaction than any other method known to mankind.
Much less discussed, and yet perhaps more immediate, is mining’s impact on costs of chips — which go into everything from smartphones and TVs to cars.
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