In a new report published by CoinShares on Monday, the firm estimated that the Bitcoin (BTC) mining network emitted 42 megatons, or Mt, (1Mt = 1 million tons) of carbon dioxide, or CO2, in 2021. In context, the number amounts to less than 0.08% of the world's total emissions of 49,360 Mts of CO2 in the same year. CoinShares came to such figures using a variety of estimates … [Read more...] about Bitcoin mining network accounts for 0.08% of world’s CO2 production
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Economist claims a $500,000 Bitcoin would be disastrous for CO2 emissions
The founder of Digiconomist, Alex de Vries, predicts that, in the long run, the cost of mining a Bitcoin will rise to the price of a Bitcoin. de Vries was referring to economic theory, which states competition will drive profits down over time.de Vries, whose website studies the consequences of digital trends from an economic perspective, says, under this scenario, competitive … [Read more...] about Economist claims a $500,000 Bitcoin would be disastrous for CO2 emissions
Winklevoss’ Gemini buys carbon credits to cut Bitcoin’s CO2 footprint
Gemini, a major cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is responding to Bitcoin’s (BTC) environmental issue by purchasing carbon credits. On Thursday, the company announced its long-term initiative to incorporate climate-conscious measures into its business, launching a collaboration with Climate Vault, a nonprofit founded at the University of … [Read more...] about Winklevoss’ Gemini buys carbon credits to cut Bitcoin’s CO2 footprint