Consider the following statements regarding Green Cryptocurrency:
Statement I: Green cryptocurrencies are digital currencies mined using renewable energy sources like hydropower, wind, or solar, instead of fossil fuels.
Statement II: Cryptocurrency mining involves solving complex puzzles using high-powered computers, which consume large amounts of electricity—often from non-renewable energy sources.
Which one of the following is correct in respect of the above statements?
1
Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I
2
Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I
3
Statement I is correct, but Statement II is incorrect
4
Statement I is incorrect, but Statement II is correct