A survey by Cambridge’s Center for Alternative Finance showed that the business emits more than 48 million tonnes of carbon dioxide a year.
The Cambridge Alternative Finance Center (CCAF) has released a new report on the environmental impact of bitcoin (BTC) mining around the world. The study determined that the activity is responsible for the emission of 48.35 million tons of carbon dioxide per year, which represent 0.1% of all global greenhouse gas emissions (GHG).
According to the study, the consumption of BTC mining in the world is comparable to that of countries like Nepal or the Central African Republic. In addition, CO2 emissions are nearly half of those from gold mining (100.4 million tons).
“A Deep Dive into the Environmental Impact of Bitcoin”, This is how the CCAF titled its latest report on crypto mining, in which it highlights the growing popularity of BTC as a key factor in the prominence that the activity’s environmental issues have acquired. In any event, recognizes that the impact is real but has diminished in recent years.
read more: ► Bitcoin network energy demand has fallen 21% so far in 2022
Alexander Neumullerproject manager, pointed out that GHG emissions from BTC mining in 2022 aim to be more than 14% lower than last year. Additionally, he pointed out that 37.6% of the energy mined by BTC miners is derived from sustainable energy types.
New developments in the sector
mull over and society also pointed out in their report that there are currently “interesting concepts and developments” around crypto mining, like flue gas attenuationthe waste heat recovery and other apps.
“Time will tell if these are just new ideas that don’t live up to their promises or whether they will become a more integral part of the bitcoin mining industry in the future”adds the survey.
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