Daily Management Review

Scientists: Bitcoin is a threat to Earth's climate


US scientists came up with a paper that says the energy for cryptocurrencies mining is growing. According to their information, this volume has already started to exceed a year energy consumption of some states.

The scientists say that the cryptocurrency mining became a threat to the "zero emissions" goals. Scientists are calling on states to start regulating mining of cryptocurrencies to lower their carbon-related footprint.

Benjamin Jones, professor of economics at the University of New Mexico, pointed out that "the volume of electricity now required to mine cryptocurrency has already exceeded the amount consumed by entire states - Ireland, for example. It is about about several terawatts a year that is used just for bitcoin mining."

Activists in the environmental sphere have long said that there has to be a choice made between mining of cryptocurrency and the impact on the environment. Meanwhile, the founders of Etherium, the another popular cryptocoin, have promised to reshape the digital currency's algorithm to make it more eco-friendly.

source: theguardian.com