Bitcoin: the “mining” could raise the global temperature by two degrees

October 30, 2018 - By Joseph Taylor

The activity of “mining” bitcoin cryptocurrency can generate emissions capable of raising the temperature of the planet by two degrees Celsius until 2033, according to a study by the magazine “Nature Climate Change”.

The process of “mining” bitcoins, necessary to keep the chain of blocks with which the cryptocurrency works, requires an increasing expenditure of electricity as its use increases, assured EFE.

Researchers at the University of Hawaii (United States) calculated that if the use of bitcoin extends at a speed similar to that of other technologies, the accumulated emissions would generate a two-degree warming in 15 years.

According to the estimations of the scientists, the use of the cryptocurrency generated in 2017 about 69 million metric tons of carbon dioxide.

“We can not predict the future of bitcoin, but even if its adoption grows at the slowest pace possible compared to other technologies, it will be very bad news for climate change,” said geographer Camilo Mora, of the US university.

“Clearly, all future developments related to cryptocurrencies should try to drastically reduce the demand for electricity,” the lead author of the paper added.

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