Bitcoin causes CO2 emissions like those in Las Vegas

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The production of digital currency and online transactions produce CO2 emissions similar to those of Hamburg and Las Vegas

Any human activity produces a carbon footprint that ends up impacting the environment. In the case of cryptocurrencies, until recently there was no clarity about how much CO2 they produced. To solve the doubt, the University of Munich and MIT conducted a study that proves that the creation and use of Bitcoin produces 22 megatons of CO2, an affordable figure with emissions from cities such as Las Vegas and Hamburg.

Leer en español: Bitcoin causa emisiones de CO2 como las de Las Vegas

From the environmental point of view, the figure is alarming because it means that the environment is being affected by this virtual market. Many will wonder how it is possible for a digital currency to produce so many issues taken into account that everything is done through computers and a network on the internet.

The answer is that high energy expenditure is to blame for producing these high emissions. According to EurekAlert, the 'Bitcoin mining' (Bitcoin mining) has quadrupled only in 2018. This means a significant increase in energy consumption and therefore in the emission of gases. The cryptocurrency boom would be putting more negative charge on the environment.

How does the study was realized?

To make the measurements, the team took into account the hardware that is used for Bitcoin and if the operations were being carried out on personal computers or on farms, which usually need refrigeration systems to maintain stable temperatures. "The researchers determined that Bitcoin's annual electricity consumption, as of November 2018, would be approximately 46 TWh," explains EurekAlert.

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The result of the study shows that the production and use of cryptocurrencies such as Bitcoin have consequences on climate change due to the high CO2 emissions. As found by researchers, 68% of the countries where the Bitcoin network is located are in Asia; 17% are located in Europe and 15% are located in North America. These countries would be responsible for the high emissions.

What does it mean environmentally?

"Naturally, there are more important factors that contribute to climate change, however, the carbon footprint is large enough to make it worth discussing the possibility of regulating cryptocurrency mining in regions where energy generation is especially intensive in the region. carbon, "says Christian Stoll, leader of the research.

To improve the conditions, the scientist proposes: "to improve the ecological balance, one possibility could be to link more mining farms to an additional renewable generation capacity".

LatinAmerican Post | Marcela Peñaloza

Translated from "Bitcoin causa emociones de CO2 como las de Las Vegas"