How China’s crypto crackdown could lead to a cleaner bitcoin industry

More: Paytm’s new partnership and Vedantu’s potential entry into the unicorn club [Read from your browser]( Daily Newsletter Hello {NAME} , When I was working on the [latest episode of Tech in Asia Explains]( which explores non-fungible tokens (NFTs), I spent a fair bit of time reading up on the environmental impact of blockchain. A single Ethereum transaction has a footprint of about 35 kilowatt-hour - according to my calculations, that’s how much power the average household in Singapore consumes in about three days, which is pretty terrifying to think about. This not-so-green reputation extends to bitcoin as well, which uses up more energy than the entire country of Argentina. This has led to some soul-searching in the crypto realm around the sustainability of bitcoin mining, and the tides are certainly shifting. Several cryptocurrency firms are taking steps to reduce their carbon footprint, and China’s clampdown on bitcoin mining may have helped give the industry the eco-friendly boost it needs. -- Stefanie  --------------------------------------------------------------- THE BIG STORY [Why China’s crypto exodus is a boon for green bitcoin mining]( The migration of crypto miners out of China could very well be a blessing in disguise for the renewable energy industry.  ---------------------------------------------------------------  IN PARTNERSHIP WITH The Emerald Isle and the little red dot have a lot in common Some countries like Singapore are synonymous with the words business hub. But what about Ireland? Well, you might be surprised at how similar the Emerald Isle is to the city-state. The two nations serve as gateways, providing politically stable bases from which companies can expand in their respective regions. Both locations also provide business-friendly environments and have English as the common language. In Ireland’s case, being a committed member of the European Union makes it the [ideal launchpad]( into the region - much like how Singapore is a great headquarters for Asia-Pacific activities. Find out more about starting your organization’s European journey via Ireland by downloading [IDA Ireland’s Land and Expand Playbook](.  ---------------------------------------------------------------  TRENDING NEWS [Vedantu in talks to raise $100m to make it India’s 5th edtech unicorn]( The potential fundraise would come after Vedantu refuted rumours that it was in talks to be acquired by edtech major Byju’s, reported Moneycontrol. [Singapore unicorn Nium’s payments arm launches five-in-one multicurrency card]( After linking their bank cards with Amaze, users can use the Instarem-powered card to make online and offline purchases without the need for top-ups. [Tencent-backed Chinese comics app enters unicorn club after $240m fundraise]( The fresh funding lifts Kuaikan’s valuation to US$1.25 billion, according to a Bloomberg report. [Philippine govt says Axie Infinity players to pay taxes for trading ‘pets’]( Trading pet axies online generates thousands of pesos when sold in the Philippines. The government says that these transactions are taxable. [Ant dispels rumors saying gov’t official under probe bought shares during its IPO]( The fintech giant in a statement said that it “strictly followed” regulations and laws during its IPO process, reported Pandaily. [IPO-bound fintech firm Paytm partners with India’s largest private bank]( The partnership with HDFC Bank will also help Paytm ramp up its fintech services in the retail segment as the company looks to go public in November. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - Startup Arena Pitch Battle - [Submit your application]( today and stand a chance to win more than US$24,500 in prizes! - *Live* How can founders sharpen strategic thinking skills on August 26 - [RSVP today]( - *Live* My roller-coaster journey building HappyFresh on October 12 - [RSVP today]( - *Live* How to catch the content economy boom on October 13 - [RSVP today]( - *Live* Making something people love: The Dana way on October 13 - [RSVP today]( - Tech in Asia Conference: Southeast Asia Global Debut on October 12 to 14 - [Grab your early-bird tickets](  ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Project Manager]( at HashMicro Singapore, Singapore - [People & Organization Development Supervisor]( at Boga Group Tangerang, Indonesia - [ERP Admin Specialist]( at Hangry Jakarta, Indonesia - [SEO Officer]( at FUSE Jakarta, Indonesia - [iOS Engineer]( at Gramedia e-Perpust Jakarta, Indonesia - [Store Manager]( at iSearch Indonesia Indonesia Bulk Terminal, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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