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According to Eric Theden of ESMA, European authorities must pay special attention to initiatives in which blocks are mined using the energy-intensive Proof-of-Work algorithm. This is because it causes irreversible environmental harm.

This, however, is only one side of the coin. The truth is that no matter how much green energy is produced in Europe, the majority of it is currently and will continue to be spent on mining in the future.

It’s inefficient. Furthermore, it contradicts the goal of decreasing the planet’s carbon footprint. To remedy the problem, prohibit bitcoin mining that is hazardous to the environment.

Mining, according to Teden, has produced a serious calamity in his home country of Sweden. However, this is a worldwide issue that must be addressed rather than a national one.

All projects that are presently working on PoW can switch to PoS. This form of mining is less expensive and causes a less environmental impact.

There are also additional techniques of block mining that cut the mining process’s power expenses by 99.95%. As a result, it is worthwhile to make an effort and, eventually, resolve this issue completely.

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