February 1, 2018 / 11:02 AM / a year ago

Italy's Enel: "no interest" in powering cryptocurrency miners

MILAN, Feb 1 (Reuters) - Europe’s biggest power utility, Italy’s Enel, took a stand on Thursday against the energy-hungry industry of mining cryptocurrencies, saying it had “no interest whatsoever in selling power for the purpose of mining cryptocurrencies”.

In a brief statement, the company said it had come to this conclusion after a period of careful study and analysis.

“Enel has undertaken a clear path towards decarbonisation and sustainable development and sees the intensive use of energy dedicated to cryptocurrency mining as an unsustainable practice that does not fit with the business model it is pursuing,” it said. (Editing by Mark Bendeich)

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