That say Environmental groups in a new report. Organizations call on US states to ban new activities to ‘mine’ bitcoins to avoid further climate damage
Mining bitcoins consumes a lot of energy because of the complex calculations it takes. According to environmental groups, Bitcoin production in the United States will result in 27.4 million tons of CO2 emissions between 2021 and mid-2022. That’s more than three times the emissions of the largest coal-fired power plant in the United States and nearly equal to the annual emissions of 6 million cars.
The major player is America
According to a recent survey, 38 percent of global Bitcoin mining takes place in the United States. It was 3.5 percent in 2020. As China clamps down on Bitcoin mining, many Bitcoin companies have moved to the US or are expanding their US operations.
The Bitcoin Mining Council, an interest group for American bitcoin miners, says the crypto industry uses relatively little power. More than half That energy comes from renewable sources.
A new Greenpeace campaign
Last week Greenpeace also A A New Campaign Against Bitcoin started In addition, the ecosystem demands innovation in the technology behind Bitcoin so that the cryptocurrency consumes less energy.
Recently, Ethereum, the biggest crypto currency after Bitcoin, has already made a big change.to unite‘, after which the energy consumption decreased drastically.
“Passionate analyst. Thinker. Devoted twitter evangelist. Wannabe music specialist.”