Modern Gentlemen
  • Home
  • Reviews
  • Blog
  • News
  • About
  • Our Team
  • Contact
Modern Gentlemen

Lifestyle, Health & Fitness Magazine

Modern Gentlemen
  • Home
  • Reviews
  • Blog
  • News
  • About
  • Our Team
  • Contact
Bitcoin Is Becoming an Environmental Concern
  • News

Bitcoin Is Becoming an Environmental Concern

  • Jovana Kentic
  • February 25, 2022

Mining bitcoin is creating a massive carbon footprint that could escalate unless handled properly. For comparison, the yearly pollution of bitcoin amounts to pollution some countries make in the same period. 

The estimates are that 75% of bitcoin mining relies on fossil fuels. The situation used to be better, as many miners relied on renewable hydropower produced in China. However, China banned crypto mining in Q1 2021, causing a 17% rise in fossil fuel usage. 

According to experts, this was an unexpected development as many expected mining to become greener after the Chinese ban. Instead, today, a single bitcoin transaction creates pollution equal to the amount of carbon produced by a trans-Atlantic flight. 

The United States is still a growing crypto market, with some states providing subsidies to crypto miners. Unfortunately, these subsidies aim to attract new customers for the coal industry, as coal is (alongside natural gas) a main source of power for miners.

Encouraging users in a growing market to turn towards coal as a source could have a devastating effect on the climate. However, bitcoin marketplaces keep insisting that environmental challenges of mining are not an issue and that the crypto-community keeps innovating towards a better world.

0
0
0
Share
Tweet
Share
Pin it
Share
Jovana Kentic

A literary aficionado and an aspiring erudite, Jovana chose content writing as a way of sharing new ideas and interesting nuances of everyday life with the world. With an academic background in English language and literature, and command of five more languages, doing research and creating engaging content has never been boring. In her free time, she likes to travel and spend countless hours trying to learn Finnish.

Previous Article
Vaping Statistics
  • Blog

20 Vaping Statistics & Facts to Learn in 2022

  • Marija Kovachevska
  • February 25, 2022
View Post
Next Article
Pandemic Changed Entrepreneurship
  • News

The Pandemic Changed Entrepreneurship For Good

  • Jovana Kentic
  • February 25, 2022
View Post
You May Also Like
Sleep Tracker Could Detect Insomnia
View Post

Sleep Tracker That Could Detect Insomnia

  • May 20, 2022
View Post

Apple Will No Longer Produce iPods

  • May 12, 2022
View Post

No Ads, Password Sharing Experience on Netflix is Coming to an End

  • May 10, 2022
View Post

Zero Covid Policies and War in Ukraine – The Damage On Business Worldwide

  • May 5, 2022
View Post

Gas Prices Keep Rising Up As the Situation in Ukraine Deteriorate

  • May 3, 2022
View Post

Sony Launches New Subscription Service to Compete with Microsoft’s Xbox Game Pass

  • April 21, 2022
View Post

Elon Musk Buys 9.2% of Twitter Stock and Becomes Largest Shareholder

  • April 18, 2022
View Post

FIFA Plus Will Livestream over 40,000 Free Soccer Matches

  • April 11, 2022
View Post

Google’s ‘Switch to Android’ App Is Finally Here

  • April 7, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts
  • Beard Growth

    The Ultimate Beard Growth Guide

    • 20.05.22
    View Post
  • Beer Industry Statistics

    20 Beer Industry Statistics That Are Essential for 2022

    • 14.05.22
    View Post
  • Book Reading Statistics

    Book Reading Statistics for Your Inner Bookworm

    • 10.05.22
    View Post
  • Small Home Office Ideas

    Small Home Office Ideas For A More Productive 2022

    • 06.05.22
    View Post
  • Buying a Motorcycle

    Buying a Motorcycle — Everything You Need to Know

    • 03.05.22
    View Post
Social Links
Modern Gentlemen
  • About
  • Our Team
  • Contact
  • Affiliate Disclosure
  • Privacy
  • Terms
©2022 ModernGentlemen.net – All Rights Reserved.

Input your search keywords and press Enter.