A U.S. city is raising alarms about the negative impact of a nearby Bitcoin mining operation.
A group of residents from Granbury, Texas, has taken legal action against Marathon Digital, alleging that the noise from its Bitcoin mining operations is detrimental to their health and quality of life.
They claim the persistent sound has led to various ailments, including headaches, fatigue, and even exacerbated existing health conditions like hypertension.
This lawsuit highlights the escalating tensions between Bitcoin mining activities and local communities, as facilities often operate nonstop. Residents assert that the noise levels from the mining site create a significant disturbance, impacting their daily lives.
Additionally, Bitcoin mining faces scrutiny for its substantial environmental footprint, with reports indicating that it consumes more electricity annually than some countries, resulting in higher carbon emissions and contributing to climate change. As the industry grows, many areas are becoming cautious about permitting such operations.
Renowned author and financial educator Robert Kiyosaki has issued a word of caution to everyday investors relying too heavily on exchange-traded funds (ETFs).
Bitcoin may be entering a typical summer correction phase, according to a July 25 report by crypto financial services firm Matrixport.
Bitcoin has dropped sharply to test its local range low near $115,000, with analysts pointing to renewed whale activity and long-dormant supply movements as key contributors to the decline.
Bitcoin has reached a critical milestone in its programmed supply timeline—only 5.25% of the total BTC that will ever exist remains to be mined.