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AntiCapitalism MeetUp: cryptomining and deep seabed mining share disruptive environmental threats [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-04-27
Can late capitalism innovate away from environmentally harmful extraction and meet its profit demands while meeting global net-zero goals.
Or will it be necessary to adopt regimes of ecosocialism that enforce degrowth policies that minimize market-based development policies that can accelerate innovative processes and technology.
Hughes Glomar Explorer. The mining company and ship were nominally owned by reclusive billionaire Howard Hughes, but secretly backed by the CIA, who paid for the construction of the Hughes Glomar Explorer.[5] The ship recovered a portion of K-129, but a mechanical failure in the grapple caused two-thirds of the recovered section to break off during recovery.[6][7]
Trump thinks bitcoin is like clean coal, but like the Glomar Explorer affair that nearly recovered a complete soviet submarine, there’s far more below the ocean surface.
Digital data mining and the associated bitcoin dredging do not resemble actual resource extraction, but their environmental effects may ultimately contribute to a climate crisis that is already trying to move the net-zero timelines past 2030 and the temperature threshold from 2o to 3o C.
Map and territory converge as the need for ecosocialist policy planning for carbon remediation where an endless cycle of carbon sequestration does not promise the kind of speed necessary to prevent a climate crisis.
Cryptocurrency mining requires excessive amounts of electricity in creating currency that produces a variant of fictitious capital less dependent on location whereas marine mining is more capital-intensive than terrestrial mining. Firms with ocean oil drilling platforms see seafloor mining as a complementary source of commodities. The advantage is that land as seafloor has fewer rights issues.
Strip-mining the sea floor is a logical capitalist goal with open-ended assumptions of exploration rights. However, like Project Azarian’s cover story of mining for manganese nodules, there will be actual planet warming consequences at an ever-increasing scale.
Ultimately it is about financing such projects and the necessity of state power for implementing what is becoming more urgent degrowth applications. It’s still all about capital, even if mining digital ‘coinage’ is a diametric opposite of the extraction of rare earth metals.
The leading company in cryptocurrency mining now boasts a market capitalization exceeding $5 billion, surpassing that of many companies in the traditional materials mining sector. Developing more information about cryptocurrency mining in the United States and its effects on electricity demand is important to provide context for energy policymakers, energy planners, and the general public. However, assessing the electricity use of cryptocurrency miners is difficult for several reasons. First, cryptocurrency mining can be performed with facilities of many sizes, ranging from individual workstations to massive data centers, which makes identifying them among the millions of end-use customers in the United States difficult. Second, identifying and tracking cryptocurrency mining facilities is made more difficult by the propensity of these operations to move in search of lower cost electricity. Third, when a cryptocurrency mining operation is identified, information on its power draw and operations is often unavailable or unclearly specified. Varied facility sizes, a paucity of data on operations, and shifts in facility location and ownership add complexity to the creation of a statistically representative sample of cryptocurrency miners. www.eia.gov/…
Technological innovation, paid or unpaid, should be prized above any valorizing processes even if the recovery and recycling industry might not be sufficient to meet ecological goals. Ultimately, corruption will prevail if the current political situation continues.
With #Bitcoin, you are the map AND the territory." -
@JeffBooth
The leading company in cryptocurrency mining now boasts a market capitalization exceeding $5 billion, surpassing that of many companies in the traditional materials mining sector.
Bitcoin (BTC) mining is a digital process that validates transactions and prevents double-spending by adding new Bitcoins to the network. It involves thousands of computers solving complex mathematical problems by using sophisticated hardware and software to verify and make transactions immutable in the Bitcoin blockchain, a virtual ledger in which every operation is stored.
bitcoin laws do not exist in some states
The rest is trumpian corruption.
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Communism, The Highest Stage of Ecology makes a bold intervention in contemporary environmental debates, refuting the myth that socialism and ecological responsibility are at odds. Instead, Guillaume Suing argues that planned economies—unlike capitalist market systems—offer the necessary framework for sustainable resource management, food sovereignty, and scientific agricultural advancements.
Drawing on historical case studies from the Soviet Union and Cuba, Suing explores the successes and contradictions of socialist environmental policies, from agroecology to energy planning. He critically engages with ecosocialist currents and exposes the limitations of “green capitalism,” ultimately reaffirming the centrality of dialectical materialism in understanding and confronting the climate crisis.
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