Too Long; Didn't Read
Analysts and environmentalists have called Bitcoin mining an energy-intensive venture. This has brought a continuous spotlight on Bitcoin mining’s energy consumption. But it has also made everyone blind to traditional banking's colossal energy consumption. This financial sector consumes more energy than Bitcoin. Traditional banking activities include cash printing and running automated teller machines (ATMs) and PoS systems. Traditional banks consume about 17.6 TWh annually in renewing banknotes. This alone, Michel Khazzaka (Valuechain) said.