According to researchers at the Center for Alternative Finance at the University of Cambridge and representatives of the IEA, the share of electricity from renewable sources in Bitcoin mining will increase.
In May, Tesla stopped accepting BTC as payment for its electric vehicles due to the “environmental harm” that Bitcoin mining is doing. After that, the world community drew attention to the fact that a significant share of electricity for mining is taken from burning fossil fuels. In China, where nowadays great attention is paid to ecology, the authorities decided to ban mining.
However, as researchers from the University of Cambridge and the International Energy Agency (IEA) have found, the peak of CO2 emissions associated with mining cryptocurrencies is already behind, and the share of energy consumption from renewable sources will increase in the coming years. Researcher and engineer Hass McCook emphasized:
“From the data obtained, it can be seen that the peak in CO2 emissions associated with Bitcoin mining was several months ago. Along with the mining ban in China, emissions began to decline very quickly. Even in the worst case, in five years they will be only a third of the current indicators, and in ten years only clean energy will be used when mining bitcoin. ”
Interestingly, according to Cambridge analysts, bitcoin mining is currently using more “green” energy than the average. Therefore, the CO2 emissions from mining are 418 grams per kWh of energy consumed, while the average is 463 grams. In addition, McCook believes that the environmental damage from bitcoin miners is too “bloated and overvalued.”
“One of the most delusional statements, at the same time very popular, is the statement of some” academy “that only bitcoin miners raised the average temperature of the Earth by 2 degrees Celsius!”, – noted the researcher.
According to the initiative group Bitcoin Mining Council, already today 56% of the energy for Bitcoin mining is taken from renewable sources.
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