, 2023-01-13 16:06:57,
In late 2021, the price of a Bitcoin topped $65,000. Since then, the price has fallen 70% and taken with it the fortunes of the once-burgeoning crypto mining industry.
Those operations are involved in generating bitcoin and other cryptocurrencies, often using sprawling stacks of computers that require a ton of electricity to stay running.
Some states and municipalities have been vying to attract this industry for years. Others have been less welcoming, with critics charging that they are hurting clean energy goals across the country and around the world.
The crypto contingent at this month’s CES in Las Vegas seemed eager to show it’s not fazed by the current moment.
Speakers on a panel called “How To Stay Warm in a Crypto Winter” were introduced this way: “These are not individuals who jumped in over the last two years during all of the craziness.”
In other words: No crypto tourists here “but really the crypto OGs.”
This crypto winter started early last year, months before the November collapse of FTX and the arrest of founder Sam Bankman-Fried.
From the CES convention floor, Sheila Warren, CEO of the industry group Crypto Council for Innovation, acknowledged those events haven’t helped public perception.
Still, “the thing I’m certainly seeing here at CES is that this isn’t going away,” she said. “It is definitely here to stay.”
But the industry is certainly in trouble. That’s especially…
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