Mining became an environmental disaster. Miners scoured the globe for sources of cheap power. Pretty much everywhere they set up shop, locals objected. Residents of Niagara Falls, New York, complained that Bitcoin miners’ powerful cooling fans—necessary to keep the computers from overheating—were drowning out the sound of the area’s massive waterfalls. China—not exactly known for its environmentalism—banned mining due to its massive energy use. (Of course it was welcomed by Texas.)
