“Environmental, Social and Corporate Governance issues are now a major motivation for many investors.
Right now, it shows that the process of mining the cryptocurrency – which involves using vast amounts of computer processing power – uses more electricity each year than Malaysia or Sweden and is closing in on the annual consumption of Egypt.
When he announced his grand cryptocurrency plans back in February – and made Tesla’s chief financial officer “Master of Coin” – Elon Musk sparked a surge in the value of Bitcoin and the adoration of its fanatical devotees.