Lincoln Swann explains why Bitcoin has become a huge environmental liability as its per-unit cost-to-mine has risen:
“Bitcoin – from WSJ”by MarkGregory007 is licensed under CC BY-NC-SA 2.0
Bitcoin is more than a rather volatile imitation currency, it is also a huge energy monster.
The digital “mining” to create more Bitcoins and the recording of transactions uses up vast, crazy, amounts of electricity – something like 70TWh a year. That is about the same as Austria, say 20% of UK power consumption. As an added horror much if it is done in China where most of the power is coal generated.
All that adds up to a CO2 output from Bitcoin stuff of about 35mt a year. Planet friendly it definitely aint.
