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Crypto miners’ acquisition of fossil fuel plants adds to rising carbon in the air.
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Carbon emissions from crypto mining operations may vary from one location to another.
Proof-of-Work (PoW) cryptocurrencies have long been debated under the umbrella of energy consumption. Earthjustice, an environment-focused non-profit organization, explains in its report “THE ENERGY BOMB,” how these assets are worsening the climate crisis.
Coal Consumption is Still at Large Among Crypto Miners
The document highlights energy consumption by Bitcoin (BTC), the flagship cryptocurrency, boomed from a gigawatt (GW) a day in 2017 to 11 GW/day in 2022. The Office of Science and Technology Policy (OSTP), a department of the US government, estimates crypto mining takes up to 66 Billion kWh/year or up to 1.7 percent of total annual energy consumption in the country.
Primarily, China catered to global crypto mining operations until the government crackdown in 2021. Bitcoi
We współpracy z: https://www.thecoinrepublic.com/2023/10/03/crypto-mining-may-still-be-hurting-the-environment-at-large/
