Cryptocurrencies emerged a few years ago, but environmentalists are increasingly concerned about their impact on the climate.
Experts from the University of Hawaii at Manoa, who published an article in the journal Nature Climate Change, found that if Bitcoin mining continues at the same rate as other common technologies, it could raise global temperatures by two degrees Celsius by 2033.
They analyzed information on emissions, taken from different stages of the Bitcoin mining chain, and found that mining cryptocurrencies produces enough emissions to raise the temperature of the planet to a critical point.
The seriousness of the problem could be understood from the fact that a temperature increase of around 1.5 degrees Celsius will lead to irreversible, catastrophic climate impacts for the planet.
Since Bitcoin mining requires heavy equipment, it consumes huge amounts of energy. So, the researchers analyzed information such as the energy efficiency of computers used in mining cryptocurrencies, the geographical location of Bitcoin miners, and the carbon dioxide emissions produced in those areas.
They found that in 2017 alone, Bitcoin mining and trading emitted 69 million metric tons of CO2. Currently, only emissions from transportation, housing, and food are considered major contributors to global warming.
But the research results suggest that Cryptocurrency mining should be added to the list – although the future of Cryptocurrencies cannot be predicted yet, as the industry has seen many ups and downs.
We now know that if bitcoin is adopted even to a small extent for use in credit cards, transportation or ACs, it will change the environment as we know it.
