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Bitcoin Is Becoming an Environmental Concern
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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.

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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.

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