News
The Energy Conundrum: Bitcoin vs. Traditional Banking

The financial sector is facing significant energy challenges, with both Bitcoin and traditional banking contributing to environmental concerns. This article explores innovative solutions aimed at reducing the energy consumption and carbon footprint of these financial activities, highlighting the importance of sustainability in the industry. For cutting-edge strategies and initiatives addressing the energy challenges in the financial sector, visit the Terranox Website to learn about innovative solutions promoting sustainability and environmental responsibility.
The Energy Dynamics of Bitcoin
The energy dynamics of Bitcoin are a complex interplay between the technology’s innovative potential and its environmental impact. Bitcoin mining, the process that keeps the Bitcoin network secure and functional, is at the heart of these energy dynamics.
This process involves solving complex mathematical puzzles to validate transactions and add them to the blockchain, a task that requires significant computational power. As a result, Bitcoin mining operations often use large arrays of specialized hardware known as ASICs (Application-Specific Integrated Circuits), which consume substantial amounts of electricity.
The high energy consumption of Bitcoin mining has raised concerns, especially as the network grows and the difficulty of mining increases. Critics argue that the environmental cost of Bitcoin mining could outweigh its benefits, particularly in regions where electricity is generated from fossil fuels, contributing to greenhouse gas emissions and climate change.
However, proponents of Bitcoin argue that the network’s energy usage is a necessary investment in a decentralized and secure financial system, and that it is comparable to or even less than the energy consumption of traditional financial systems when considering the full lifecycle of money, including printing, transportation, and storage.
Furthermore, the Bitcoin community is actively seeking ways to reduce its environmental impact. One approach is the increasing use of renewable energy sources for mining operations. Hydroelectric power, solar energy, and wind energy are becoming more common in Bitcoin mining, particularly in regions where these resources are abundant and cheap.
The Environmental Footprint of Traditional Banking
The environmental footprint of traditional banking is a multifaceted issue that encompasses various aspects of the banking sector’s operations. Unlike the digital realm of cryptocurrencies, traditional banking relies heavily on physical infrastructure, including bank branches, ATMs, and the production and transportation of currency. These elements contribute to the sector’s energy consumption and carbon emissions.
Bank branches and ATMs are ubiquitous, and their operation requires energy for lighting, heating, cooling, and running electronic systems. The energy used in these facilities often comes from non-renewable sources, contributing to the carbon footprint of the banking sector. Additionally, the construction and maintenance of physical banking infrastructure involve the use of materials and resources, further adding to the environmental impact.
The production and transportation of physical currency are other significant contributors to the environmental footprint of traditional banking. The process of printing banknotes and minting coins requires energy and resources, and the transportation of currency between banks, businesses, and consumers generates carbon emissions. The management of cash, including its storage and security, also entails energy consumption.
In response to these environmental concerns, the banking sector is increasingly adopting sustainable practices. Many banks are investing in energy-efficient buildings and technologies to reduce their carbon footprint. Digital banking is being promoted as a more environmentally friendly alternative to physical banking, as it reduces the need for paper and physical infrastructure. However, digital banking is not without its environmental impact, as data centers and network infrastructure require energy to operate.
Innovations and Solutions
In addressing the energy challenges associated with both Bitcoin and traditional banking, several innovations and solutions are being explored and implemented. These efforts aim to reduce the environmental impact of financial activities while maintaining or even enhancing the efficiency and security of transactions.
In the realm of Bitcoin, one significant innovation is the development of more energy-efficient mining hardware. Advances in technology have led to the creation of mining rigs that require less electricity to perform the complex computations necessary for securing the blockchain.
Solar, wind, and hydroelectric power are increasingly being harnessed to provide the electricity needed for mining, thereby reducing the reliance on fossil fuels and mitigating the carbon footprint of the cryptocurrency. Some mining facilities are even being set up in locations with excess renewable energy, such as regions with abundant hydroelectric power, to take advantage of lower energy costs and contribute to a more sustainable mining ecosystem.
Digital banking is one such innovation, as it reduces the need for physical infrastructure and the associated energy consumption. By enabling customers to conduct transactions online or through mobile apps, banks can decrease the usage of paper, lower the energy required for operating branches, and minimize the carbon emissions from commuting to and from bank locations.
Conclusion
In conclusion, the financial sector is actively seeking ways to address its environmental impact. Through advancements in technology, the adoption of renewable energy sources, and the promotion of green finance, both Bitcoin and traditional banking are making strides toward a more sustainable future.
News
Pembrokeshire Council tax rise for residents as 9.35% agreed

PEMBROKEHIRE taxpayers are to see their bills increase by 9.35 percent after “political tribalism was set aside,” but an alternative lower proposal by the Conservative group was defeated.
Today’s March 6 meeting of full council was to consider three potential increases in council tax, 9.85 percent previously recommended by Cabinet, a 9.35 percent rise proposed by the Independent group led by Cllr Huw Murphy, which was later supported by the ruling coalition, and a 7.5 percent rate proposed by the Conservative group.
The council was to decide the annual budget, which includes the council tax element, on February 20 but that meeting was deferred until March 6, in part awaiting the final Welsh government local government settlement, which saw the county gain a small amount of extra money, worth roughly an extra £500,000, reducing its funding gap to £26.9m.
At the March 6 meeting, Cabinet member for finance Cllr Joshua Beynon moved the Independent-proposed budget be adopted rather than the previous 9.85 percent council tax rise one, seconded by Independent group member Cllr Alan Dennison.
The 9.35 percent increase adds £141.25 to the average bill over last year’s rate.
The Conservatives’ alternate budget of 7.5 percent was proposed by group leader Cllr Di Clements, saying there was a need to make “tough choices” with “a limited pot,” adding last year’s council tax increase of 12.5 percent was “one of the highest in the UK,” with “a significant rise” again proposed this year.
The Conservative proposals included addressing deficits in council leisure services by partnering with a national leisure trust, along with increasing the education budget by £6.6 million in the next financial year.
Cllr Clements added: “The budget choices will get harder and harder, we believe we cannot keep doing the same thing, slicing services until there is nothing left, that is why we are looking at alternate ways of providing services.”
She was joined by group spokesman for finance Cllr Aled Thomas who said people were “sick and tired of the status quo,” adding: “Taxpayers shouldn’t be burdened with failures of this local authority, whether vanity projects or failures to make efficiency savings; it is the taxpayer that pays for this, we owe it to them to be responsible.”
Cllr Alec Cormack, the former Cabinet member for finance, said he sympathised and supported some elements of the Conservative proposals but felt some parts were “not fully developed,” with “a very serious risk that many of these measures would not really deliver savings in 2025-’26,” adding: “I do not feel this really leads us to a balanced budget”.
After lengthy debate, the Conservative proposal was defeated by 45 votes to 13.
Leader Cllr Jon Harvey quoted from his speech when he was elected leader, saying he was happy to work on cross-party consensus politics, adding: “Cllr Huw Murphy shared a budget proposal, which we’re grateful for, not too dissimilar to the one proposed by Cabinet, considered to be a proposal we could jointly put forward, a pragmatic approach rather than an adversarial approach.”
He told members the 9.35 percent increase would lead to a county council part of the overall tax bill for the average Band D property would now be £1,651.97 in Pembrokeshire against Ceredigion’s £1,886.57 for the forthcoming financial year.
The final bill is calculated by adding the police precept, set at £360.68 for a Band D property, and individual town and community council precepts.
He warned there were still elements in the budget that were “a risk,” with challenging efficiency savings needed.
The 9.35 percent rise was backed by 46 members, with 13 against.
Speaking after the meeting, Independent group Leader Cllr Murphy said their supported proposal was “about doing what’s right by our most vulnerable, not doing what’s necessarily popular”.
He reiterated his party being “critical friends to the Administration” who would not “oppose for the sake of opposition,” welcoming the Cabinet support his party’s proposal, where “political tribalism was set aside for the good of our residents,” welcoming it as “progressive and mature politics on a very difficult subject, namely council tax”.
“In life it’s about making the difficult decisions not about making popular decisions that we are measured against.
“No tax rise is welcomed but today was a balance of offering the lowest council tax that was realistically possible versus the services we provide, much of it statutory.”
Cllr Aled Thomas of the Conservative group reacted to the vote, saying: “It’s disappointing that the Independent Group and Cabinet came together today to vote for the continued tax and spend mindset, at the expense of Pembrokeshire residents.
“The Conservative group proposed an ambitious budget with innovative ideas signalling change, and it was great to hear members across the chamber agree that change can’t come quick enough.
“Despite today’s result, the Welsh Conservative group will continue to fight for the best value for money for the hardworking Pembrokeshire taxpayers.”
Community
Park helps shape groundbreaking dark skies guidance

THE PEMBROKESHIRE COAST NATIONAL PARK AUTHORITY has played a key role in the development of new Welsh Government guidance that will help protect Wales’ dark skies for future generations.
The Good Practice Guidance on Planning for the Conservation and Enhancement of Dark Skies was officially launched at an event in Cardiff on Thursday 20 February ahead of Dark Skies Week. The guidance provides a national framework to ensure lighting is used responsibly, reducing light pollution while enhancing well-being, biodiversity, and Wales’ globally renowned night skies.
Gayle Lister, Principal Planning Officer at the National Park Authority, who was part of a collaborative nationwide approach in shaping the guidance, said: “Promoting and encouraging dark sky lighting and reducing light pollution are the simplest, quickest, and most cost-effective way to make visible, positive change for our communities.”
Wales is home to some of the darkest skies in the world, and Pembrokeshire Coast National Park offers fantastic opportunities for stargazing. However, increasing levels of light pollution are threatening these natural wonders, impacting nocturnal wildlife, human health, and the growing astrotourism sector in Wales.
The Pembrokeshire Coast National Park Authority has long championed dark skies conservation, and this new guidance will strengthen its ability to promote responsible lighting practices across planning applications, developments, and local communities.
The Authority will continue to share insights from the guidance across its communication channels, helping communities, businesses, and developers make informed choices about lighting. By reducing light pollution, we can protect wildlife, improve well-being, and keep Pembrokeshire one of the best places to experience truly dark skies.
To find out where to enjoy the National Park’s breathtaking nightscapes, visit www.pembrokeshirecoast.wales/dark-skies.
News
Starmer pledges increased defence spending with focus on Wales

PRIME MINISTER Keir Starmer has announced the largest sustained increase in defence spending since the Cold War, pledging to raise the UK’s defence budget to 2.5% of GDP by 2027, with an ambition to reach 3% in the next Parliament. The move, he said, is crucial for national security and economic stability, with investment expected to generate jobs and apprenticeships across Wales.

Writing for the press, Starmer emphasised Wales’ key role in national defence, ensuring that the increased budget would directly benefit Welsh communities. He specifically pointed to the contributions of the Royal Monmouthshire Royal Engineers, which has served since 1539, as well as the RAF training school on Anglesey, which trains the next generation of fighter pilots. He also stressed the strategic importance of Castlemartin in Pembrokeshire, the UK’s largest live-firing range, in use since 1938.

The Prime Minister said: “We are determined that Welsh industry, Welsh skills, and Welsh workers will benefit from our increased defence investment. This is about securing Wales’ future, creating good jobs, and ensuring that Wales continues to play a crucial role in keeping the UK safe.”
However, the Prime Minister acknowledged that these commitments would require difficult financial decisions. To support the increased defence budget, the government plans to reduce development assistance spending from 0.5% of Gross National Income (GNI) to 0.3% by 2027.
The impact of global instability, particularly Russia’s invasion of Ukraine, has been felt across Wales, with rising energy bills and economic uncertainty affecting households and businesses. Starmer reaffirmed the UK’s commitment to NATO and its allies, stressing the importance of strengthening military capabilities and reinforcing national security.
The government’s commitment to defence spending is expected to create economic opportunities across Wales, including in aerospace manufacturing and military training. Pembrokeshire, with its long-standing military presence, is likely to see further investment in its defence infrastructure, including Castlemartin.
The announcement signals a strategic shift towards reinforcing Britain’s defence capabilities while ensuring that Wales plays a central role in the country’s future security strategy.
The full article by Keir Starmer can be read at: Daily Post.
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