Environmental Groups Budget $1M for Bitcoin Code Change Ads After The Merge

Environmental groups are looking to spend another $1 million on online ads in the clamour for the bitcoin community to change the network’s code to reduce energy consumption.

Earlier on Thursday, the Ethereum blockchain changed its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS).

PoS does away with the need for energy-intensive computing power.

Bitcoin, a PoW network, has been facing mounting criticism over its energy use, which is similar with to that of some small countries.

The Environmental Working Group (EWG)along with Greenpeace USA, Ripple co-founder Chris Larsen, and other small environmental organizations launched a campaign to change the bitcoin code earlier this year.

Also, Greenpeace USA started an online petition calling on multi-trillion-dollar asset manager Fidelity Investments to help take the lead in pushing Bitcoin to switch to PoS.

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