Bitcoin and CO2 – Whether in favor or against Bitcoin (BTC) and cryptos, analytics on Pollution “ that they would generate must to be taken with tweezers. In the case of the present research in any case, the impact of crypto-mining would be far, very far even, from the “planet-destroying monster” thesis that Bitcoin would be.
Bitcoin network mining: only 0.1% of GHG emissions
The mainstream media generally have the critical very easy cryptocurrencies. Prominent among these reproaches is the – supposedly dramatic – Show of Greenhouse gas (GES). This would be due to the activities of mining of Proof of Work (PoW) based cryptos, like Bitcoin.
This shot has already been disassembled many times. In particular because the mining farms naturally prefer the lower electricity costs of areas where waste of energy production (overproduction of hydroelectric dams, unusable gas from oil wells, etc.). Even, these crypto-farms build their own renewable energy source (solar power plant). They help the authorities during voltages on the electrical network.
And a new research report from Cambridge Center for Alternative Finance (CCAF) comes again broken this myth of Bitcoin “polluting enemy No. 1”. Indeed, as The Block reports in particular, this study concludes that only 0.1% of global CO emissions2 and other GHGs would be due to BTC mining!
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All this fuss for so little, what percentage of GHG emissions for yachts and private jets?
In addition to this low percentage, CCAF researchers explain not even not having taken into account activities that can reduce these greenhouse gas emissions. Like avoiding the waste of gas production from oil flares mentioned above. Or again, the heat recovery emitted by mining machines. This allows to heating residential areas (and avoid burning gas for heating).
Wait, don’t go yet! In addition to the plus, these shows have down year over year. Indeed, from September 2021 to September 2022, GHG emissions decreased by -14.1%. An improvement that would be due to the constant search for more efficiency for bitcoin mining machines.
“Even though the hashrate [ndlr : la puissance de calcul] increases, this does not necessarily translate into an increased demand for electricity consumption, if the efficiency of the appliances increases. (…) Miners are rational economic agents. They wouldn’t make something work just to say make it work. They turn off the machines that are not profitable, and then continue with the most profitable ones. »
Despite the share, however, a priori, negligible crypto-mining in GHG emissions, the White House actually (curiously) his priority. Indeed, the services of Joe Biden have clearly promised to eliminate bitcoin and cryptos in PoW if they did not become “greener”.
Bitcoin mining would be less polluting than what the newspapers say! Instead, come and seek solid returns for your cryptocurrencies with AscendEX Earn. Join AscendEX today (commercial link).