It is not uncommon to discover the sheer quantity of pollution caused by the mining of Bitcoin compared to automobiles.
Not many people are aware of the fact that the pollution caused by Bitcoin mining is comparable to emissions caused by 6 million internal combustion cars per year. Bitcoin became popular after its prices surged just before the pandemic and people made an insane amount of money. In fact, many people were first introduced to technology at that time. However, during the pandemic, millions of people ended up buying Bitcoin and other crypto currencies with the hope of getting rich overnight. But that backfired suddenly as the prices took a steep fall.
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Bitcoin Mining Causes Same Pollution as 6 Million Cars
According to the information from multiple environmental groups, U.S. Bitcoin mining was responsible for causing three times more pollution than the country’s biggest coal plant. This points toward the potential long-term damages that would be caused to the environment in the future by mining Bitcoin. Not many people know that the Bitcoin mining process is an energy-intensive affair. Environmental groups say the industry’s environmental record, energy usage and long-term impact on communities have largely been hidden from scrutiny.
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Also, the Bitcoin miners have contributed to the prolonged life of the fossil fuel plants, pushed up electricity rates, strained power grids, and fallen severely short on promises of jobs-related benefits for the local community. The concern is that with the efforts to reduce the carbon footprint in all walks of life, Bitcoin mining could very well reverse that process with such levels of pollution. China already banned Bitcoin mining in 2021. This resulted in a whopping 27.4 million tonnes of emissions in the past year due to Bitcoin mining in the U.S.
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In a bid to tackle that, governments around the globe are offering incentives to promote the mass adoption of EVs. The aim is to offer support to the public until the prices of the EVs come down and the technology advances to a point where range anxiety ceases to be an issue. In the meanwhile, the charging infrastructure is being developed rapidly to cater to the growing energy needs of EV owners. What are your thoughts on the matter?