The rise of cryptocurrencies has started a new era of money innovation and less central control. Yet, this digital money revolution brings big environmental impacts. Cryptocurrency mining uses a lot of electricity. In fact, it uses as much as half the power of the global banking sector. This huge use of power is worrying. It…
The rise of cryptocurrency, especially Bitcoin, has captured wide interest. It’s not just investors who are keen, but environmental advocates too. This popularity highlights concerns about its environmental impact, especially from Bitcoin mining. In 2020 and 2021, the global Bitcoin mining network used a huge 173.42 Terawatt hours of electricity. To give you an idea,…
The debate on crypto and the environment is quickly changing. We are currently tackling the urgent matters of climate change and sustainability. This piece seeks to clarify the influence of cryptocurrency by addressing common myths and sharing key facts. We delve into the energy use of digital currencies like Bitcoin and highlight the industry’s shift…