Currently, emissions from the transport, housing and food sectors are considered the main factors contributing to climate change. This demonstrates that Bitcoin should be added to this list.
Mining cryptocurrencies, including bitcoin, requires large energy costs. According to the latest data, the energy costs for mining only bitcoins are 67.54 terawatt hours per year, while back in November they were estimated at about 66.17 terawatt hours per year.
If bitcoin miners from all over the world created their own autonomous state, then in terms of electricity consumption it would take a place at the top of the rating, leaving behind more than 120 countries.
It can be concluded that if the “mining” of cryptocurrency develops at the same pace as today, then in just two years, bitcoin will “eat” all the energy that is being generated in the world today.
Mining power supply leads to the emission of millions of tons of carbon dioxide into the atmosphere. And in the next 20 years, as the popularity of bitcoin grows, the cost of electricity for mining will give 200 billion tons of greenhouse emissions.
So the cooling does not threaten us!