Bitcoin pollutes more than oil drilling or beef production

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  • Cryptocurrency Mining Is Multiplying Your Ecological Footprint, New Study Warns

  • CO emissions2 associated with this activity have multiplied by 126 in the last five years

The cryptocurrency mining has an environmental impact comparable to some of the most polluting activities on the planet. According to a new study published this Thursday in the journal ‘Scientific Reports’, bitcoin mining has a similar or even higher ecological footprint than mining. oil extraction o to beef production. “Cryptocurrency mining is not becoming more sustainable over time, but rather becoming more climate-damaging,” the research warns.

The analysis assesses the ecological footprint of bitcoin mining – the process of generating and storing these cryptocurrencies – between January 2016 and December 2021. In 2020 alone, bitcoin used an average of 75.4 terawatt hours of electricity; more than what countries like Austria (69.9) or Portugal (48.4) consume. That year, moreover, it is estimated that every dollar generated in the market This cryptocurrency generated the equivalent of $1.50 in global climate damage.

“Globally, Bitcoin mining or production is using huge amounts of electricitymainly from fossil fuels such as coal and natural gas. This is causing huge amounts of air pollution and carbon emissions, which has a negative impact on our global climate and our health,” explains Benjamin A. Jones, a researcher at the University of New Mexico and an author of this study.

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The analysis also indicates that the CO emissions2 associated with bitcoin mining they have multiplied by 126 in the last five years. In 2016, mining a cryptocurrency emitted 0.9 tons of carbon dioxide. In 2021, this process emitted about 113 tons per coin. A recent study also estimates that the emissions generated by bitcoin mining are comparable to those generated by cities as large as Vienna, Hamburg or Las Vegas.

Based on these data, the scientific community warns –once again– of the worrying environmental impact of this digital industry. Experts warn that with the current production model, ‘digital currencies’ are not sustainable. For this reason, after the publication of this latest scientific study, the researchers claim “significant changes” in cryptocurrency miningincluding possible regulation of these processes to minimize associated serious environmental damage.

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