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Bitcoin’s US carbon footprint the same as 6 million cars; Report Revealed by CoinEdition

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© Reuters. Bitcoin’s US carbon footprint the same as 6 million cars; Reveals Report
  • Environmental group report reveals that US bitcoin produces the same amount of carbon footprint as 6 million cars.
  • More than 38% of global BTC mining is located in the US, producing a carbon footprint of 27.4 million tons.
  • The groups further demanded that new mining activities in the US states be banned.

A report from environmental groups revealed that mining in the US produces the same amount of carbon emissions every year as 6 million cars. Following the release of the report on Friday, the groups have urged that new US Bitcoin mining activities be banned in the face of looming climate change.

Jeremy Fisher, Sierra Club energy analyst and co-author of the report, said energy-hungry sectors could produce emissions that could harm any action taken to combat climate change.

We are at a turning point. We are trying to go low carbon fast. Bitcoin mining has the potential to undo some of that progress.

According to an Environmental Protection Agency calculator, the cryptocurrency sector’s carbon footprint from mid-2021 to mid-2022 was 27.4 million tons, which is three times that of the largest US coal-fired power plant.

In 2022, only 3.5% of global bitcoin mining was in the US, but that number has grown to 38% by 2022, according to a new White House study.

To combat this crisis, the New York legislature shares the same perspective as the environmental groups, passing a law to pause all new fossil fuel-based operations.

However, the Bitcoin industry defends the cryptocurrency sector by claiming that BTC uses a small 0.09% to 1.7% of the total US power. In addition, members of the Bitcoin Mining Council have presented data showing that more than 50% of the power used by miners comes from renewable sources.

Elliot David of the Sustainable Bitcoin Protocol further noted, “Bitcoin is a technology with a lot of positive and negative climate potential.”

Bitcoin’s post-US carbon footprint the same as 6 million cars; Reveals Report appeared first on Coin Edition.

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