RATE Group | Cryptocurrency and Climate Change: How bad is crypto for the environment?
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Cryptocurrency and Climate Change: How bad is crypto for the environment?

01 Dec Cryptocurrency and Climate Change: How bad is crypto for the environment?

Posted at 15:09h in Cryptocurrency News by

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Of the many criticisms that are levelled at Bitcoin and other cryptocurrencies, the negative impact that they have on the environment is one of the tougher ones to dismiss. Let’s take a look at the facts surrounding crypto’s contribution to climate change, and figure out how the crypto community should react.

It is undeniable that the process of mining cryptocurrencies that are based on a Proof-of-Work system consumes a huge amount of energy. According to recent estimates, Bitcoin miners alone use around 61.5 TWh of electricity per year. This is roughly the same annual usage as the entire nation of Switzerland, or enough to power around 5.6 million homes in…

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