Europe’s Largest Energy Company Against Mining

February 5, 2018

Italian company Enel, the biggest power supplier in Europe, has claimed, it does not favor its energy being used for mining.

“Enel has undertaken a clear path toward decarbonisation and sustainable development and sees the intensive use of energy dedicated to cryptocurrency mining as an unsustainable practice that does not fit with the business model it is pursuing”, the company’s official said.

In addition, there was a leak in the media earlier on the negotiations held between Enel and Envion, Swiss mining company making use of ecologically safe power sources.

Let us recall that as the recent Morgan Stanley report says, miners may need 140 tera-watt/hour for their activity this year, which makes about 0,6% of its total volume. It is to be noted that at year-end total annual power volume for mining made 20,5 tera-watt/hour which is comparable to the Irish and Morocco numbers summed.

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