The founder of the cryptocurrency exchange Binance believes in the efficiency of mining

Changpeng Zhao, CEO of cryptocurrency exchange Binance, shared his opinion on bitcoin mining. According to Zhao, bitcoin mining is an efficient and transparent method of cryptocurrency mining.

According to Zhao, if you compare bitcoin mining with the methods of energy use by traditional financial companies, it becomes clear that the mining process is much more efficient and less energy-consuming. Binance’s CEO stated that any asset with a total market capitalization of a trillion dollars requires much more energy than mining the flagship cryptocurrency.

It is worth noting that the share of green energy (electricity from renewable sources) in bitcoin mining has reached almost 60%. The researchers also emphasized that bitcoin miners generate only 0.09% of total carbon dioxide emissions into the atmosphere, while consuming 0.15% of global electricity generation.