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
Mining
Crypto mining won’t survive another round of environmental legislation
It was only a matter of time before China slapped a ban on Bitcoin (BTC) mining, trading and crypto services. To do anything with Bitcoin anywhere in the People’s Republic, one needs a special exemption. The Chinese government’s given reason for the Bitcoin crackdown is to reduce its well-documented climate impact. Regardless of the amount of truth in this explanation, one … [Read more...] about Crypto mining won’t survive another round of environmental legislation
Bitcoin Mining Difficulty Sets New All-Time High
Mining difficulty on the Bitcoin network increased by 9.32% and hit an all-time high of 26.64 trillion on Jan. 21, at 3:07 UTC, beating the previous record set on May 13, 2021.The difficulty is automatically adjusted based the amount of computational power on the network, or hashrate, to keep the time it takes to mine a block roughly stable at 10 minutes. The higher the … [Read more...] about Bitcoin Mining Difficulty Sets New All-Time High
Newly Public Core Scientific Leads Slump in Crypto Mining Stocks
The stocks of other publicly traded miners, which are highly leveraged to the price movements of the cryptocurrencies they mine, have also dropped. On Friday, shares of Hut 8 (HUT) fell about 12%, Hive (HIVE) dropped more than 9%, Riot Blockchain (RIOT) dipped 7%, and Marathon Digital (MARA) fell about 5%. Source link … [Read more...] about Newly Public Core Scientific Leads Slump in Crypto Mining Stocks
EU Markets Regulator Calls for Ban on Proof-of-Work Crypto Mining: Report
Proof-of-work crypto mining should be banned in the European Union (EU), according to the vice chair of the European Securities and Markets Authority (ESMA).Erik Thedéen said that EU regulators should nudge the crypto industry towards the less energy-intensive proof-of-stake mining in an interview with the Financial Times."The solution is to ban proof-of-work," he said. … [Read more...] about EU Markets Regulator Calls for Ban on Proof-of-Work Crypto Mining: Report