Enel Declines to Supply Renewable Energy to Crypto Mining, Citing Sustainability Concerns

Enel’s Stance on Crypto Mining

On February 1, Enel, one of Europe’s powerhouse utility companies, made waves by announcing its decision to refrain from selling renewable energy to the crypto mining giant, Envion. The Italy-based company responded to inquiries, stating their disinterest with a clarity that only corporate lingo can muster. In a statement to Reuters, they emphasized their commitment to a clear path toward decarbonization and sustainable development. To put it simply, their vision for the future doesn’t include an energy-hungry crypto operation:

“Enel has undertaken a clear path toward 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.”