New Study Says Bitcoin Has An Energy Problem That Could Exacerbate Climate Change

A newly released study asserts a large amount of electricity is eaten up as Bitcoin00 is exchanged and mined. The author suggests these consumption habits could be churning out enough carbon emissions to affect global climate change.

The relationship between Bitcoin00 and energy has always been somewhat complicated.

Many people have come to odds with miners who set up operations in smaller towns and communities and promise big opportunities, but instead throw power grids into disarray by consuming large amounts of electricity.

Other claims about excessive energy consumption are a bit overblown. Stanford lecturer Jonathan Koomey noted how there is still not adequate information out there in order to come to a conclusion about how much energy virtual currency mining uses.

Speaking to this point, assistant professor Christian Catalini of Massachusetts Institute of Technology (MIT) explained how mining gear is often customized and assembled with a variety of components. This makes it…