Cryptocurrency mining will lead to a climate catastrophe. Where are the environmentalists? – NeeWS

Many Bitcoin fans and not only may blame us for not being their supporters, it is not quite so, but so much is said about the fight against global warming and climate change, and here we quite unexpectedly grew up a monster that can accelerate the destruction humanity. Meanwhile, environmentalists are doing nothing to stop it.

A new gold rush in the form of mining Bitcoin and other cryptocurrencies could lead to a climate catastrophe. Every day an exorbitant amount of energy is wasted, which is produced by burning fossil fuels.

Maintaining the network of the most popular cryptocurrency consumes 121 terawatt hours per year, which is more than the annual energy demand of the whole of Argentina or the Netherlands. BBC experts point out that if Bitcoin were a state, it would be in the top 30 consumers of electricity and CO2 emissions in the world. When it comes to emissions of greenhouse gases into the atmosphere, excavators generate approximately 200 million tons of CO2 annually. Poland emits less than 300 million CO2, and is already subject to strict EU restrictions.

In China, Russia or Ukraine, where electricity charges are low, cryptocurrency enthusiasts set up centers where they install hundreds or thousands of machines for cryptocurrency mining. This fact should come as no surprise. Bitcoin is the most expensive in its history and many believe that it will soon exceed the magical limit of PLN 200,000.

Currently, the purchase of an efficient graphics card on the market is almost a miracle, and if they appear on store shelves, their prices are 3-4 times higher than they should be. It is similar with the top laptops themselves. There is no indication that this trend is going to change quickly. If Bitcoin and other cryptocurrencies continue to grow, we can expect energy demand to double very quickly. Ukraine wants to fuel excavators with nuclear energy (Look here). This shows how fast the global craze for virtual coins is spreading.

Now we are waiting for environmental movements of environmentalists. At the moment, nothing seems to be going to be dealt with on this topic. Perhaps their principals themselves are heavily involved in cryptocurrency mining and virtual coin speculation, which is why they are not in a hurry to protest massively. After all, Bitcoin and the rest is a gold mine that can make a fortune in a very short time. So why attack something that can finance other environmental campaigns.

Source: Cambridge Centre for Alternative Finance / Fot. Pexels

Source: – Wiadomości by

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