ASICs' Impact on Cryptocurrency. Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central. How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue. By. Shawn Tully. April 20, AM PDT. What Is Bitcoin Mining? Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and.