‘We spend more energy digging gold out of the ground than mining crypto’: Paxos’ Charles Cascarilla

The following was produced by Tearsheet Studios. We worked with crypto brokerage Paxos to create a podcast series about the mainstreaming of crypto, the genesis of Paxos, the rise of stablecoins, and crypto’s energy and environmental impact. Alongside the mainstreaming of crypto are concerns about the impact of its mining on the environment. While a significant amount of crypto is mined with renewable sources like solar and hydro, much of it still relies on non-renewable, carbon dioxide emitting sources. For the final episode of this series, we spoke with Paxos’ CEO Charles Cascarilla about the truth behind the concerns, the relationship between economy and energy, and what he learned from building his own crypto mining farm.