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Is Bitcoin Doomed Without an Urgent Green Blockchain Upgrade?

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The debate over cryptocurrencies’ environmental impact has intensified as governments, corporations, and investors focus on Environmental, Social, and Governance (ESG) concerns. Bitcoin, the world’s most prominent cryptocurrency, is leading the criticism, known for its energy-intensive Proof-of-Work (PoW) consensus mechanism.

While innovations are emerging across the crypto industry to address environmental concerns, Bitcoin’s contribution to global carbon emissions remains a major point of contention.

Bitcoin’s Environmental Problem

Bitcoin’s PoW mechanism relies on miners solving complex cryptographic problems, consuming vast amounts of computational power and energy.

According to estimates from the University of Cambridge, Bitcoin’s annual energy consumption rivals that of entire nations such as Argentina or Norway. Moreover, Bitcoin’s environmental footprint is exacerbated in regions where mining operations are powered by non-renewable energy sources.

“Bitcoin mining may be responsible for 65.4 megatonnes of CO2 (MtCO2) per year, which is comparable to country-level emissions in Greece (56.6 MtCO2 in 2019) and represents 0.19% of global emissions,” a report titled Revisiting Bitcoin’s Carbon Footprint read.

Bitcoin Electricity Consumption
Bitcoin Electricity Consumption. Source: University of Cambridge

Critics argue that this consumption is disproportionate and unsustainable, especially in light of global climate commitments. While alternative cryptocurrencies are exploring eco-friendly mechanisms, Bitcoin’s slow adaptation to such technologies has raised concerns.

“Everybody recognizes Bitcoin is environmentally unhealthy, but any big changes to Bitcoin protocol have been very unsuccessful because you need to get all the miners to agree on that,” Hanna Halaburda, Associate Professor of Information at NYU Stern School of Business, said.

If environmental sustainability becomes a core expectation of investors and regulators, Bitcoin may soon face increasing pressure to upgrade.

A Green Shift in Crypto

In contrast to Bitcoin, other blockchain platforms have already taken steps to reduce their environmental impact. Ethereum, for instance, made headlines in 2022 with its shift from PoW to Proof-of-Stake (PoS), cutting its energy consumption by over 99%. PoS replaces energy-hungry mining with validators who lock up tokens as collateral to secure the network.

This transformation set a precedent for the industry, showing that eco-friendly upgrades are possible even in established networks.

Read more: Proof of Work and Proof of Stake Explained

Ethereum Energy Consumption
Ethereum Energy Consumption. Source: Digiconomist

Other platforms like Hedera, Cardano, and Tezos also boast PoS mechanisms and are increasingly focusing on sustainability. Hedera’s involvement in carbon offsetting projects and its collaboration with the Global Blockchain Business Council (GBBC) to promote environmental standards are further steps toward reducing blockchain’s ecological footprint.

In an exclusive interview with BeInCrypto, Wes Geisenberger, Vice President of Sustainability and ESG at HBAR, noted the importance of the GBBC InterWork Alliance’s Carbon Emission Token (CET) Task Force. This task force, developed to address carbon accounting at a technical level, is helping companies navigate these regulations.

“The CET is a positive contribution, very much driven by the changes coming from governments and corporates looking for solutions to credibly address their environmental impact,” Geisenberger said.

This kind of technical development highlights the growing intersection of blockchain and environmental governance. The crypto industry is increasingly collaborating with government bodies and international organizations to find solutions that meet regulatory expectations while leveraging blockchain’s potential to innovate.

Investors are Paying Attention

Investor sentiment is increasingly aligned with global ESG priorities. Climate-conscious investors are urging industries, including crypto, to take accountability for their environmental impact. In response, some blockchain ecosystems are leading climate-focused efforts, both through technological innovation and by funding sustainable projects.

According to Geisenberger, the HBAR Foundation’s Sustainable Impact Fund is one of the first grant-based funds aimed at promoting blockchain’s role in sustainability. This fund supports initiatives like the Hedera Guardian, a public ledger platform designed to improve transparency in carbon credit markets.

By enabling institutions and startups to track and verify their carbon-offsetting efforts, Hedera has shown how blockchains can facilitate responsible environmental practices.

“The Hedera Guardian has already onboarded 500 million metric tonnes of carbon credits. We see these tools helping answer challenges to enable outcomes to measure our planet’s externalities and give agency to folks participating in environmental and biodiversity projects to better trace flows of funds back to the community,” Geisenberger explained.

Despite these positive developments in the broader blockchain ecosystem, Bitcoin’s reliance on PoW remains unchanged. Bitcoin advocates argue that its decentralized nature and security features are unparalleled and that any shift in its consensus mechanism could jeopardize its integrity. They point to Bitcoin miners’ adoption of renewable energy as a possible solution to its environmental challenges.

Some mining operations are indeed migrating to regions with abundant hydroelectric, wind, and solar power. However, these efforts are still piecemeal and lack industry-wide coordination.

“A lot of Bitcoin mining companies have set up their contracts with renewable energy companies. The argument is that having these mining facilities as clients means that when there’s an oversupply of energy, it may actually make it more profitable for the renewable energy plants,” Halaburda added.

Read more: 5 Best Platforms To Buy Bitcoin Mining Stocks After 2024 Halving

Bitcoin Energy Sources
Bitcoin Energy Sources. Source: EZ Blockchain

The question, then, is whether Bitcoin will be able to evolve in an increasingly ESG-driven world. The industry’s focus on renewable energy and carbon offsetting projects offers some hope, but it may not be enough if regulatory frameworks impose stricter environmental requirements.

Challenges in Standardizing ESG Metrics

While some crypto platforms have made strides toward sustainability, the challenge of standardizing ESG metrics across the industry persists. Blockchain technology’s decentralized and often opaque nature complicates the task of measuring environmental impact consistently and comparably.

Efforts like the CET protocol are helping to fill this gap, but broader industry-wide adoption is necessary for meaningful change. Without standardization, it remains difficult to gauge which platforms are truly sustainable and which are relying on surface-level commitments.

There is also the challenge of balancing the interests of investors, users, and environmental advocates, each of whom has different expectations regarding the future of blockchain technology.

As regulations tighten and the global push for sustainability accelerates, Bitcoin’s environmental footprint will likely become harder to ignore. The crypto industry has demonstrated that it can innovate and adapt, but Bitcoin, as the original and most influential cryptocurrency, faces an uphill battle. It may ultimately require either an upgrade in its consensus mechanism or a significant investment in renewable energy solutions.

Disclaimer

Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Strategy Adds 22,048 BTC for Nearly $2 Billion

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Michael Saylor announced that Strategy purchased nearly $2 billion worth of Bitcoin. This is a massive leap over last week’s purchase, which was already quite substantial.

Nonetheless, the firm was only able to make this acquisition thanks to major stock offerings. Bitcoin’s price has been sinking over the last few weeks, and this could mature into a potential liquidation crisis.

Strategy Maintains Bitcoin Purchases

Since Strategy (formerly MicroStrategy) began acquiring Bitcoin, it’s become one of the world’s largest BTC holders. This plan has totally reoriented the company around its massive acquisitions, inspiring other firms to take up the same plan.

Today, the firm’s Chair, Michael Saylor, announced another purchase, much larger than the last few.

“Strategy has acquired 22,048 BTC for ~$1.92 billion at ~$86,969 per bitcoin and has achieved BTC Yield of 11.0% YTD 2025. As of 3/30/2025, Strategy holds 528,185 BTC acquired for ~$35.63 billion at ~$67,458 per bitcoin,” Saylor claimed via social media.

Strategy’s latest Bitcoin acquisition, worth just shy of $2 billion, is a major commitment. In February, the firm made a similar $2 billion purchase, and it was followed by a tiny $10 million buy and a $500 million one. The $500 million purchase, which took place on March 24, only happened thanks to a huge new stock offering. This move further cements Strategy’s faith in BTC.

By making these billion-dollar buys, Strategy is able to buttress the entire market’s confidence in Bitcoin. However, investors should be aware of a few potential cracks.

First of all, Bitcoin’s performance is a little subpar at the moment. Despite hitting an all-time high recently, Bitcoin is having its worst quarter since 2019, and there is not much forward momentum.

Bitcoin (BTC) Price Performance
Bitcoin (BTC) Price Performance. Source: BeInCrypto

This could cause a unique problem for the company. Since Strategy is a cornerstone of market confidence, it is unable to offload its assets without jeopardizing Bitcoin’s price.

The firm’s debts are growing at a fast rate, and this could have dangerous implications if Bitcoin keeps falling. Strategy could be forced to liquidate, even if that seems unlikely now.

Still, it’s important to remember that these are only possible scenarios. Strategy has maintained its consistent Bitcoin investments for nearly five years, and it’s paid off tremendously well. However, if it keeps taking on billions in fresh debt obligations, this faith will turn into a gamble with very high stakes.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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BTC Price Rebound Likely as Long-Term Holders Reenter Market

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Bitcoin (BTC) is on track to end Q1 with its worst performance since 2019. Without an unexpected recovery, BTC could close the quarter with a 25% decline from its all-time high (ATH).

Some analysts have noted that experienced Bitcoin holders are shifting into an accumulation phase, signaling potential price growth in the medium term.

Signs That Veteran Investors Are Accumulating Again

According to AxelAdlerJr, March 2025 marks a transition period where veteran investors move from selling to holding and accumulating. This shift is reflected in the Value Days Destroyed (VDD) metric, which remains low.

VDD is an on-chain indicator that tracks investor behavior by measuring the number of days Bitcoin remains unmoved before being transacted.

A high VDD suggests that older Bitcoin is being moved, which may indicate selling pressure from whales or long-term holders. A low VDD suggests that most transactions involve short-term holders, who have a smaller impact on the market.

BTC: Value Days Destroyed. Source: CryptoQuant.
BTC: Value Days Destroyed. Source: CryptoQuant

Historically, low VDD periods often precede strong price rallies. These phases suggest that investors are accumulating Bitcoin with expectations of future price increases. AxelAdlerJr concludes that this shift signals Bitcoin’s potential for medium-term growth.

“The transition of experienced players into a holding (accumulation) phase signals the potential for further BTC growth in the medium term,” AxelAdlerJr predicted.

Bitcoin’s Sell-Side Risk Ratio Hits Low

At the same time, analyst Ali highlighted another bullish indicator: Bitcoin’s sell-side risk ratio had dropped to 0.086%.

Bitcoin Sell-side Rish Ratio. Source: Glassnode
Bitcoin Sell-side Rish Ratio. Source: Glassnode

According to Ali, over the past two years, every time this ratio fell below 0.1%, Bitcoin experienced a strong price rebound. For example, in January 2024, Bitcoin surged to a then-all-time high of $73,800 after the sell-side risk ratio dipped below 0.1%.

Similarly, in September 2024, Bitcoin hit a new peak after this metric reached a low level.

The combination of veteran investors accumulating Bitcoin and a sharp decline in the sell-side risk ratio are positive signals for the market. However, a recent analysis from BeInCrypto warns of concerning technical patterns, with a death cross beginning to form.

Additionally, investors remain cautious about potential market volatility in early April. The uncertainty stems from President Trump’s upcoming announcement regarding a major retaliatory tariff.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Marathon Digital to Sell $2 Billion in Stock to Buy Bitcoin

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Marathon Digital Holdings, one of the largest Bitcoin mining companies in the US, made headlines with its announcement of a $2 billion stock offering to increase its Bitcoin holdings. 

This strategic move, detailed in recent SEC filings, shows Marathon’s aggressive approach to capitalize on the growing crypto market. 

Marathon’s $2 Billion Stock Offering: Key Details

On March 30, 2025, Marathon Digital Holdings announced a $2 billion at-the-market (ATM) stock offering to fund its strategy of acquiring more Bitcoin. The company filed a Form 8-K with the SEC, outlining its plan to raise capital through the sale of shares, with the proceeds primarily aimed at increasing its Bitcoin holdings. 

According to the SEC filing (Form 424B5), Marathon intends to use the funds for “general corporate purposes,” which include purchasing additional Bitcoin and supporting operational needs.

Marathon holds 46,376 BTC, making it the second-largest publicly traded company in Bitcoin ownership, behind MicroStrategy. The company’s Bitcoin holdings have grown significantly in recent years, from 13,726 BTC in early 2024 to the current figure. 

“We believe we are the second largest holder of bitcoin among publicly traded companies. From time to time, we enter into forward or option contracts and/or lend bitcoin to increase yield on our Bitcoin holdings.” Marathon confirmed

This $2 billion stock offering continues Marathon’s strategy to bolster its balance sheet with Bitcoin, a move that aligns with its long-term vision of leveraging cryptocurrency as a store of value.

Marathon’s strategy mirrors that of MicroStrategy. MicroStrategy’s stock price has soared with Bitcoin’s value, providing a blueprint for companies like Marathon to follow. By increasing its Bitcoin holdings, Marathon aims to position itself as a leader in the crypto mining sector while diversifying its revenue streams beyond traditional mining operations.

Marathon Digital CEO Fred Thiel advises investing small amounts in Bitcoin monthly, citing its consistent long-term growth potential.

The issuance of new shares to raise $2 billion could dilute the ownership of existing shareholders, potentially impacting the company’s stock price (MARA). As of March 31, 2025, MARA stock has experienced volatility, trading at around $12.47 per share, down from a 52-week high of $24, according to data from Yahoo Finance.

Moreover, Marathon’s heavy reliance on Bitcoin exposes it to the cryptocurrency’s price fluctuations. If Bitcoin’s price were to decline significantly, the value of Marathon’s holdings would decrease, potentially straining its financial position.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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