Intel CEO criticises Bitcoin for its environmental impact

The CEO of one of Intel’s largest semiconductor manufacturers, Pat Gelsinger, in an interview with Bloomberg Technology criticised the first cryptocurrency for its impact on the environment.

“One transaction on the Bitcoin network uses enough energy to power a home for a day. It’s a climate crisis,” he said.

The CEO of Intel also recalled the company’s to release a new mining chip, which “will help the development of the technology in a responsible and sustainable manner.”

According to the announcement, the devices will be built on ‘tiny chips’, so their release will have a minimal impact on current production processes. Details were promised to be unveiled at the ISSCC international conference in February.

Gelsinger also pledged to work on addressing the issue and added that the technology could transform money, transactions and supply chains.

In January, the non-profit Cardano Foundation reached its goal of one million trees planted as part of the Cardano Forest environmental project using the ADA token.

Back in February, Berkshire Hathaway vice chairman Charlie Munger described cryptocurrencies as a “disease” and praised China’s ban.

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