Cryptocurriencies are bad news for the environment

Did you know?

Cryptocurrencies, including Bitcoin, are bad news for the environment.

Bitcoin electricity consumption is monumental, and keeps growing fast as Bitcoin gets bigger.

In many countries around the world, electricity is produced from fossil fuels, generating a huge carbon footprint.

How does it work?

New bitcoins are generated through a process known as “mining” in which computers around the world solve complicated mathematical problems, earning Bitcoins as a reward.

The more miners there are, the more complicated the mining process gets. Miners need to have always more powerful computers to achieve the mining, and this process is estimated to consume around the same amount of electricity as a small country.

The more popular these cryptocurrencies get, the more energy they will require!

So far, this technology is not yet widespread, but if cryptocurrencies were to become a mainstream, the environmental impact could be major.

easyecotips
Author: easyecotips

Find hundreds of easy eco tips and learn how to be more eco friendly, go zero waste, reduce your carbon footprint and many other ways to help the planet. Find also news, facts, information and quotes to learn more about topics like climate change, global warming, plastic pollution, energy savings, recycling, and many more! We think raising awareness is the first step towards a greener world, so help us share this!

easyecotips

Find hundreds of easy eco tips and learn how to be more eco friendly, go zero waste, reduce your carbon footprint and many other ways to help the planet. Find also news, facts, information and quotes to learn more about topics like climate change, global warming, plastic pollution, energy savings, recycling, and many more! We think raising awareness is the first step towards a greener world, so help us share this!