The Cautious Tale of Cryptocurrency Mining

Abstract

For followers of the cryptocurrency industry—and who isn't nowadays—2022 did not end well and going into 2023 it doesn't appear much better. There is a dark cloud hanging over the industry. The barrage of negative news regarding cryptocurrency valuation and related technology concerns has no doubt created headwinds for the industry and those who have invested in cryptocurrency mining. Certainly, numerous questions have surfaced as to crypto's sustainability—both on the environmental front and financially, whether investors can rely on the technology's security. At the time of this writing, questions surrounding the latter have sent the crypto market reeling, with impacts on broader exchanges and investigations and indictments brought against one of the industry's largest cryptocurrency exchangers, FTX. And while numerous state and federal leaders are calling for more regulatory oversight of the industry on several fronts (we'll save the financial fallout for another editorial), the impacts of cryptocurrency mining on a changing climate are at the top of the list at federal, state, and local levels.