If bitcoin continues to be produced at the current rate through “energy” armies, it alone would be capable of putting off the targets of the international climate change community, pushing the rise in global temperature above the two degrees in relation to the pre-industrial levels, probably from 2033.
The relationship between bitcoin and climate change is highlighted by the Hawaiian University scientist, headed by Deputy Professor of Geography, Camilo Moras, who made the relevant publication in the journal Nature Climate Change. As they said, “bitcoin is a hard currency with heavy hardware requirements, which obviously translates into a high demand for electricity.”
Cryptos are digital forms of coins created by encryption (hence their name) on computers, a process known as “extraction.
The researchers estimated that the use of bitcoin in 2017 led to the emission of 69 million metric tons of carbon dioxide. At this rate and in the future, bitcoin is expected to “send” the temperature rise above the two-degree Celsius limit to 15 to 22 years, ie between 2033 and 2040. The massive consumption of electricity for production ( “Mining”) bitcoin may result in the emission of about 230 gigawatts of carbon over the next 15 years.
“Today emissions from transport, buildings and the food sector are considered to be the main causes contributing to climate change. New research shows that bitcoin should be added to this list, “said researcher Katie Talatei.