According to MarketWatch, Harvard University’s massive $53 billion endowment fund has been investing heavily in bitcoin mining operations through multiple venture capital firms. The investments include stakes in crypto mining companies that consume enormous amounts of electricity, with some operations using enough power for entire towns. This comes despite Harvard’s public commitment to achieving fossil fuel-free operations by 2026 and complete decarbonization by 2050. The university has positioned itself as a climate leader while its investment arm backs energy-intensive cryptocurrency operations. Financial writer Brett Arends calls the situation an “environmental disgrace” that reveals Harvard’s true priorities.
The green they really care about
Here’s the thing that makes this so frustrating. Harvard talks a big game about climate leadership while their money works directly against those principles. They’ve got all these public commitments about going fossil fuel-free, but apparently that only applies to campus operations, not their investment portfolio. It’s the classic “do as I say, not as I do” approach that drives people crazy about elite institutions.
Why bitcoin mining matters
Bitcoin mining isn’t just some harmless digital activity – it’s incredibly energy intensive. We’re talking about operations that consume more electricity than entire countries. And much of that power still comes from fossil fuels. So when Harvard invests in these operations, they’re directly supporting the very carbon emissions they claim to be fighting against. The math just doesn’t add up, unless you prioritize financial returns above everything else.
Follow the money
Look, Harvard’s endowment is enormous – we’re talking $53 billion. That money needs to generate returns to fund everything from faculty salaries to financial aid. And crypto investments have been incredibly profitable during certain periods. But at what cost? When an institution with Harvard’s influence and reputation makes these kinds of bets, it sends a message that environmental principles are negotiable when big money is involved. Basically, they’re saying one thing publicly while their investment team does something completely different behind closed doors.
What this means for everyone else
This isn’t just about Harvard. It’s about the disconnect we’re seeing across many institutions that talk about sustainability while making investments that undermine it. If even Harvard can’t align its investments with its stated values, what hope is there for meaningful change? The whole situation raises uncomfortable questions about whether environmental commitments are just marketing while the real work of making money continues business-as-usual. And honestly, that’s pretty disappointing from an institution that’s supposed to be leading by example.
