Core Scientific Inc

After years of anticipation, the cryptocurrency ethereum finally implemented a major network upgrade that completely changes how the blockchain verifies transactions, mints new coins and secures its network. Called proof-of-stake, this system has reduced ethereum's energy consumption by more than 99%. Energy usage has been one of the cryptocurrency industry's biggest targets for critique. But it's not likely that bitcoin will follow suit.Instead, the bitcoin network is sticking with a system called proof-of-work, in which…

Some of the biggest names in bitcoin — including Jack Dorsey, Tom Lee, and Michael Saylor — have banded together to refute claims made by House Democrats calling on the Environmental Protection Agency to investigate the environmental effects of crypto mining.Bitcoin operates on a proof-of-work (PoW) mining model, meaning that miners around the world run high-powered computers to simultaneously create new bitcoin and validate transactions. Proof-of-work mining, which requires sophisticated gear and a whole lot of…