How Do Cryptocurrency Miners Perceive the Ecological Implications of Their Work?

The ecological consequences of cryptocurrency mining have been a topic of debate since the inception of blockchain technology. The widely used proof-of-work (PoW) mining technique, which requires a significant amount of energy, has raised concerns about the long-term environmental sustainability of cryptocurrencies. However, the perspectives of crypto miners have been largely underrepresented in these debates. This study used the Values-Belief-Norms (VBN) framework to explore how cryptocurrency miners perceive the potential environmental effects of PoW mining. In-depth qualitative interviews were conducted with twelve crypto miners from South Africa (5), Argentina (2), the United States (1), Australia (1), Taiwan (1), France (1), and Switzerland (1). The results indicate that crypto miners’ values, environmental worldviews, and convictions about the value of cryptocurrency and PoW mining significantly influence their environmental attitudes. The findings of this study shed light on the attitudes and viewpoints of crypto-miners and the implications of their beliefs regarding the mining process. This not only contributes the perspectives of crypto miners to the discussion on the ecological effects of cryptocurrencies, but it also offers policymakers insights into how people perceive the environmental consequences of their actions.