It’s abundantly clear that the rise of Bitcoin and other cryptocurrencies is a pernicious blight on the environment and efforts to fight climate change—no matter how much Bitcoin advocates say otherwise.
And it turns out the costs of Bitcoin’s environmental destruction is on par with that of the beef industry, according to a. The authors—economists from the University of New Mexico—say that rather than representing a new kind of “digital gold,” Bitcoin is emerging more as a “digital crude” when it comes to a climate perspective.
But its development is grounded in cryptocurrency mining, a process in which computers compete with one another to solve complex mathematical problems to provide “proof” that a transaction has taken place. You can, but the gist is that running these computers—which are often housed in large facilities—consume an enormous amount of electricity. If that power source isn’t green, then the mining operations are basically leading to a huge swell in carbon emissions as a result.
The new study reveals that between Jan. 2016 and Dec. 2021, Bitcoin mining used 75.4 terawatt hours per year. That’s more energy than was used annually in the entire country of Austria or Portugal.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Bitcoin Mining as Bad for Planet as Oil Drilling, Scientists SayWhen it comes to environmental harm, Bitcoin mining is worse than gold and comparable to both crude oil and cattle farming, a new study has found.
Les mer »
California Gov. Newsom Proposes Windfall Profits Tax on Big Oil“Crude oil prices are down but oil and gas companies have jacked up prices at the pump,” noted Newsom.
Les mer »
Bitcoin Pizza | CoinMarketCapCMCGlossary: Bitcoin Pizza 🍕 Bitcoin Pizza refers to the infamous transaction where a guy, named Laszlo Hanyecz, paid 10,000 Bitcoins for two pizzas making it the first business transaction of Bitcoin in the real world. 👉 Details:
Les mer »
Bitcoin NFTs | CoinMarketCapCMCGlossary: Bitcoin NFTs ✨ Non-fungible tokens (NFTs) minted on Bitcoin-powered blockchains and secured by the Bitcoin network are known as Bitcoin NFTs. 👉 Details:
Les mer »
Bitcoin price starts 'Uptober' down 0.7% amid hope for final $20K pushBitcoin stays calm into the weekly close with BTC price tipped to crack $20,000.
Les mer »
Over 34,000 BTC Moved off Exchanges in Single Day, What This Implies for Bitcoin Price⬆ +13 Over 34,000 BTC Moved off Exchanges in Single Day, What This Implies for Bitcoin Price $BTC bitcoin
Les mer »