1 Bitcoin power consumption and the bigger polluter
- Author: capital.com
- Published Date: 01/12/2022
- Review: 4.93 (976 vote)
- Summary: Bitcoin (BTC) uses more electricity than 11 million US citizens. But is bitcoin’s bad reputation for environmental impact truly justified?
- Source: 🔗
2 Bitcoin’s Impacts on Climate and the Environment – State of the Planet
- Author: news.climate.columbia.edu
- Published Date: 12/29/2021
- Review: 4.79 (378 vote)
- Summary: · One study warned that Bitcoin could push global warming beyond 2°C. Another estimated that bitcoin mining in China alone could generate 130
- Matching search results: The process of trying to come up with the right nonce that will generate the target hash is basically trial and error—in the manner of a thief trying random passwords to hack yours—and can take trillions of tries. With hundreds of thousands or more …
- Source: 🔗
3 Everything you need to know about eco-friendly cryptocurrencies
- Author: thetimes.co.uk
- Published Date: 09/07/2022
- Review: 4.47 (239 vote)
- Summary: Why are NFTs bad for the environment? The environmental impact of cryptocurrencies such as bitcoin; Is there an eco-friendly cryptocurrency? New eco-friendly
- Matching search results: More than 45 companies and individuals in the crypto, finance, energy and technology sectors have also signed up to the Crypto Climate Accord, which seeks to decarbonise the industry and achieve net-zero emissions from the electricity consumption …
- Source: 🔗
4 Bitcoin mining is just as bad for the environment as drilling for oil, study claims
- Author: studyfinds.org
- Published Date: 02/25/2022
- Review: 4.31 (241 vote)
- Summary: · However, Bitcoin’s environmental damage exceeds beef production, where climate damages make up 33 percent of the market value. The study calls
- Matching search results: The research team examined how Bitcoin damages the environment according to three sustainability criteria: whether the estimated climate damage is increasing over time, whether the climate damages of Bitcoin exceed market price, and how the climate …
- Source: 🔗
5 What Is the Environmental Impact of Cryptocurrency?
- Author: pcmag.com
- Published Date: 08/14/2022
- Review: 4.08 (364 vote)
- Summary: · The most obvious environmental impact of crypto is the electricity required for the mining process, which is how new digital coins are created
- Matching search results: Digital currencies were made to be difficult to mine and take a lot of computing power to generate so no one person or group could take control of the entire network. This feature is part of what makes cryptocurrencies decentralized, meaning they …
- Source: 🔗
6 Is Bitcoin Bad For the Environment? Energy and Pollution Impacts
- Author: youmatter.world
- Published Date: 11/28/2021
- Review: 3.9 (410 vote)
- Summary: · According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin has such an impact on the environment (118.9TWh/year) – considering the
- Matching search results: The study from Stoll et al. (2019) focuses on this issue, pointing out first-generation miners used central processing units (CPU) in conventional personal computers with a computing power of less than 0.01 gigahashes per second (GH/s) and an …
- Source: 🔗
7 Fact-Checking 8 Claims About Cryptos Climate Impact
- Author: time.com
- Published Date: 10/23/2021
- Review: 3.62 (477 vote)
- Summary: · Cryptocurrencies are bad for the environment—at least, that’s what most people online seem to believe. Pro-crypto posts on social media are
- Matching search results: Jonathan Koomey, a researcher who has been studying information technology and energy use for more than 30 years, says that the two categories of machines are moving in opposite directions in terms of efficiency. A 2020 study he co-wrote found that …
- Source: 🔗
8 Environmental Impacts of Cryptocurrency – Sierra Club
- Author: sierraclub.org
- Published Date: 05/04/2022
- Review: 3.56 (270 vote)
- Summary: Bitcoin produces 36.95 megatons of carbon dioxide (CO2) annually (comparable to New Zealand) and it is estimated that in 30 years Bitcoin could alone increase
- Matching search results: Jonathan Koomey, a researcher who has been studying information technology and energy use for more than 30 years, says that the two categories of machines are moving in opposite directions in terms of efficiency. A 2020 study he co-wrote found that …
- Source: 🔗
9 FACT SHEET: Climate and Energy Implications of Crypto-Assets in the United States
- Author: whitehouse.gov
- Published Date: 07/08/2022
- Review: 3.24 (553 vote)
- Summary: · … made clear that the responsible development of digital assets includes reducing negative climate impacts and environmental pollution
- Matching search results: Jonathan Koomey, a researcher who has been studying information technology and energy use for more than 30 years, says that the two categories of machines are moving in opposite directions in terms of efficiency. A 2020 study he co-wrote found that …
- Source: 🔗
10 Why does Bitcoin mining use so much energy from fossil fuels?
- Author: independent.co.uk
- Published Date: 09/16/2022
- Review: 3.01 (344 vote)
- Summary: · Cryptocurrency has boomed in recent years but vast electricity usage required to power transactions remains major cause of climate concern
- Matching search results: Chinese Bitcoin mines are not only reliant on finite fossil fuel resources but their huge electricity usage results in carbon emissions that are said to be accelerating so rapidly, according to one new study, that they will soon exceed the energy …
- Source: 🔗
11 Is bitcoin bad for the environment?
- Author: coolerfuture.com
- Published Date: 02/24/2022
- Review: 2.9 (199 vote)
- Summary: Conclusion: So is bitcoin bad for the environment? … Bitcoin is clearly not a climate hero. Its annual carbon footprint exceeds that of some countries and this
- Matching search results: Also just like gold, bitcoin is scarce and durable — but unlike gold, it also is divisible (meaning that you can make purchases with e.g. 0.1 bitcoin), verifiable (meaning it has high security framework), portable (meaning you don’t have to carry it …
- Source: 🔗
12 What&39s the Environmental Impact of Cryptocurrency?
- Author: investopedia.com
- Published Date: 03/10/2022
- Review: 2.76 (52 vote)
- Summary: Many people are bullish about cryptocurrencies like Bitcoin, but detractors point to a major flaw—cryptocurrency mining is highly energy-intensive
- Matching search results: Also just like gold, bitcoin is scarce and durable — but unlike gold, it also is divisible (meaning that you can make purchases with e.g. 0.1 bitcoin), verifiable (meaning it has high security framework), portable (meaning you don’t have to carry it …
- Source: 🔗
13 Bitcoin Mining Is Bad for the Climate—and Local Communities Too
- Author: nrdc.org
- Published Date: 09/03/2022
- Review: 2.6 (91 vote)
- Summary: · So why would we let an environmental eyesore continue to operate?” The Greenidge Generation bitcoin mining facility, which was previously a coal
- Matching search results: Also just like gold, bitcoin is scarce and durable — but unlike gold, it also is divisible (meaning that you can make purchases with e.g. 0.1 bitcoin), verifiable (meaning it has high security framework), portable (meaning you don’t have to carry it …
- Source: 🔗
14 What are the environmental impacts of cryptocurrencies?
- Author: businessinsider.com
- Published Date: 02/01/2022
- Review: 2.57 (61 vote)
- Summary: · In the US, Bitcoin mining creates an estimated 40 billion pounds of carbon emissions. · The proof of work mining requires a lot of computing
- Matching search results: On individual levels, there have also been efforts to reduce carbon emissions. The Crypto Climate Accords have garnered 250 signatures from individuals and companies. These signatories are committing themselves to reducing their carbon emissions to …
- Source: 🔗
15 Is Bitcoin Really That Bad For The Environment?
- Author: forbes.com
- Published Date: 06/06/2022
- Review: 2.44 (73 vote)
- Summary: · Excess gas from wells is vented and burned off, creating nothing but a visual spectacle and ozone-damaging methane. Thanks to bitcoin mining,
- Matching search results: What the newspaper should have told its readers is the following: the energy required to keep bitcoin running is so vast that – when measured against the currently low levels of user engagement – individual transactions appear to reflect a high …
- Source: 🔗
16 8 Bitcoin Facts: Why is This Cryptocurrency Bad for The Environment?
- Author: earth.org
- Published Date: 01/04/2022
- Review: 2.31 (164 vote)
- Summary: According to estimates, Bitcoin emits some 57 million tons of carbon dioxide annually , nearly half a ton of CO2 for every transaction. Offsetting such a huge amount of emissions would require planting 300 million trees
- Matching search results: What the newspaper should have told its readers is the following: the energy required to keep bitcoin running is so vast that – when measured against the currently low levels of user engagement – individual transactions appear to reflect a high …
- Source: 🔗
17 Is cryptocurrency bad for the environment?
- Author: fairplanet.org
- Published Date: 07/29/2022
- Review: 2.33 (146 vote)
- Summary: · As mentioned, Bitcoin is detrimental to the environment due to the energy-intensive proof-of-work process that requires vast amounts of
- Matching search results: Nevertheless, it’s important to note that cryptocurrencies also have the positive effect of supporting those who have been disenfranchised by the global financial system, of reducing the accumulation of wealth by the banking system, and of serving …
- Source: 🔗
18 Elon Musk is right: Bitcoin mining is bad for the planet. Heres how bad
- Author: fortune.com
- Published Date: 08/07/2022
- Review: 2.13 (200 vote)
- Summary: · According to the report, rising Bitcoin prices have led to an “astronomical” surge in CO2 emissions. Over the past two years, the historic rise
- Matching search results: If that is not proof enough. Consider this: Mining the currency emits more CO2 than the whole of Greece. And that could worsen. If the price of Bitcoin were to rise to $1 million, BofA calculates, the digital currency could turn into the fifth …
- Source: 🔗
19 Mining the environment – is climate risk priced into crypto-assets?
- Author: ecb.europa.eu
- Published Date: 06/25/2022
- Review: 2.12 (113 vote)
- Summary: Increasing financial exposures to crypto-assets with a significant carbon footprint are contributing to elevated climate transition risk for the financial
- Matching search results: Some crypto-assets have a significant carbon footprint and are estimated to consume a similar amount of energy each year to individual countries like Spain, the Netherlands or Austria. As the mining and expansion of these crypto-assets are fully …
- Source: 🔗
20 Why Bitcoin Is Bad for the Environment
- Author: newyorker.com
- Published Date: 04/28/2022
- Review: 2.02 (154 vote)
- Summary: · According to the Web site Digiconomist, a single bitcoin transaction uses the same amount of power that the average American household consumes
- Matching search results: Buying a generating station, as Greenidge Generation Holdings has done, is a way around the problem. Let others pay retail; Greenidge now gets its power “behind the meter.” The firm recently announced that it was going public, via a merger with a …
- Source: 🔗
