A software developer from Greifswald, Moritz Schmidt, donated €1 million (about $1.2 million) to the Greens in Germany [Die Grünen]. The reports from Die Zeit.
This is the largest transfer the party has ever received in one go. Schmidt earned this sum through cryptocurrency trading.
“The investor has clearly made it clear to us that he regards this profit as undeserved wealth, but wishes to use it for some social project consistent with his beliefs,” said a Greens spokesperson.
According to him, the software developer is critical of Bitcoin due to the high energy consumption of mining farms, and with his donation he wanted to spur political initiatives aimed at protecting the environment and the climate.
The funds are being used for the party’s 2021 federal election campaign.
Earlier, analysts at the financial conglomerate Citigroup Inc. found that electricity costs for Bitcoin mining have increased 66-fold since the end of 2015. Researchers believe that due to the environmental unsustainability of mining, regulation could be tightened in the future.
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