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Business & Technology

Bitcoin Mining Is A Dirty Business, But Might Not Be As Bad As Previously Thought

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Bitcoin Mining Is A Dirty Business, But Might Not Be As Bad As Previously Thought

2019-11-21 04:41:071 Oct 2018 01:53 AM EST

Bitcoin is an immaterial resource derived from hype and blind faith. Even so, it is still generating a dark cloud of carbon pollution. Cryptocurrency mining facilities use so much energy that the government of Abkhazia cut power to 15 mining centers last year. Some researchers have estimated that Bitcoin alone could push us over the critical two-degree celsius threshold. But Gizmodo reports a new study shows that its carbon footprint isn't as big as we thought. Digiconomist estimates the Bitcoin mining network generates 34.73 megatonnes of carbon dioxide per year, comparable to Denmark. But a more recent study puts it at a more modest 17.29 megatonnes in 2018, comparable to the city of Vancouver. That's good news for a thing typically generating headlines of hacks, bubbles, scammers, and more scammers.

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