How bitcoin mining harms the planet’s ecology
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Bitcoin mining has a negative impact on the climate, comparable in effect to cattle breeding or gold and oil mining. Although recently the harm from mining cryptocurrencies has been declining.
If we consider the climate damage of mining as a share of its market value, then it is 6.4%, according to the official telegram channel of the ZeroWaste Energy from Waste project, citing research by environmental experts. For comparison, the climate damage from gold mining is 4%.
During 2016-2021, bitcoin mining, which holds the largest share of the cryptocurrency market, required more energy than all of Austria or Portugal.
In 2020 alone, according to scientists from the University of Cambridge, bitcoin mining required 123.99 TWh of electricity. Meanwhile, the whole of Argentina consumes 121 TWh per year, and the UAE – 113.2 TWh.
In general, cryptocurrency mining in five years led to the emission of 15 million tons of CO2 into the atmosphere.2. And the annual carbon footprint left by bitcoin is comparable to the annual CO2 emissions.2 such countries as the same Argentina or, for example, the Czech Republic.
In 2022, with the transition of miners to more energy efficient computers, the amount of harmful emissions into the atmosphere decreased by 14.1% compared to last year. In addition, according to experts, the growing trend towards using renewable energy for mining can help reduce the damage from mining to 4% – that is, make it comparable to gold mining.
By the way
On the territory of Russia, it is prohibited to use any cryptocurrency as a means of payment. However, its storage is not prohibited. And if anyone is interested: now one bitcoin is valued at 1,522,070 rubles or 23,713 US dollars.
Alena Bodrienko.
Moskovskaya Pravda collage
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