Climate Activists Pressure Bitcoin to Follow Ethereum’s Environmental Shift

Vinod Dsouza
Bitcoin BTC Environment Impact
Source: Rachel Mendelson/ Business Insider

Ethereum transitioned from proof-of-work to proof-of-stake on Thursday and the new infrastructure is now environmentally friendly. The Merge now consumes 99.95% less energy than it previously did in the PoW mining method. Previously, Ethereum’s proof-of-work infrastructure consumed high energy that could have powered Finland for a year.

Vitalik Buterin, the founder of Ethereum revealed that the Merge has reduced worldwide energy consumption by 0.2%. The development is truly an achievement for the crypto sphere, which was largely accused of leaving large carbon footprints. However, climate activists are now pressurizing Bitcoin to follow Ethereum’s environmental shift and have started online petitions to lower energy consumption.

Bitcoin is now the biggest crypto that utilizes the proof-of-work mechanism which consumes a significant amount of energy. US-based climate organization Green Peace has started a petition pressurizing Bitcoin to follow Ethereum’s PoS method. The campaign “Change the Code, Not the Climate” is asking policymakers to cease Bitcoin operations to avert grid outages.

The campaign also provided facts that Bitcoin uses more electricity than all of Sweden. It also states that “Bitcoin alone could help warm the planet more than 2 degrees.”

Also Read: Ethereum Merge: When Can You Un-Stake Your Ethereum?

Bitcoin Vs Climate Activists

Source: PCMag / Shutterstock

The climate activists have also pointed fingers at Fidelity Investments in their petition for doing business with Bitcoin. The petition urges Fidelity to not ignore the climate for their profits, as they plan to offer Bitcoin as an option in its 401(k) funds.

“Bitcoin’s skyrocketing use of electricity is driving up electricity prices and polluting the environment for local communities across the United States. It does not need to be this way,” says the petition.

Also Read: GTA 5 Producer Reacts to Video Games Integrating Cryptocurrency

The climate activists took aim at Fidelity, “Fidelity Investments has promoted business in Bitcoin for years. To date, Fidelity has ignored Bitcoin’s growing climate footprint. It’s time for us to tell Fidelity: our planet can’t afford early retirement.” The new online petition has urged Fidelity’s Chief Executive Officer Abigail Johnson to take action before it is too late.