Research Finds Bitcoin Mining Equates to 0.10% of Global Greenhouse Gas Emiss...
According to a recent report published by the Cambridge Centre for Alternative Finance (CCAF), bitcoin mining worldwide accounts for around 0.10% of global greenhouse gas (GHG) emissions or 48.35 million tons of carbon dioxide per annum. Moreover, CCAF’s report details that “Bitcoin’s environmental footprint is more nuanced and complex” and because of complexity issues it “underscores the need for independent data.” Cambridge Centre for Alternative Finance Study: ‘Bitcoin Network Produces 48.35 Million Tons of CO2 per Annum’ On....
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One of the largest bitcoin mining operations in the world, Genesis Mining, has been working on an experiment with Systemair, Lulea Technical University, Research Institute of Sweden, and the local Boden municipality. The teams in Sweden are developing a system that converts excess heat from Genesis’s bitcoin mining to power greenhouse operations. Bitcoin mining is extremely competitive and the network consumes a lot of electricity to secure transactions and mint new coins. For instance, the Cambridge Bitcoin Electricity Consumption Index (CBECI) shows that the Bitcoin (BTC) hashrate....
A new research paper argues that bitcoin mining pools can only co-exist peacefully if individual miners regularly switch pools and if pools erect sufficient defenses against attacks. If pools don't exhibit either of those properties, then they are liable to attack each other, the report finds. The paper's authors, Aron Laszka, Benjamin Johnson and Jens Grossklags, investigated the long-term effects of competition between bitcoin mining pools in a draft version of a study titled, 'When Bitcoin Mining Pools Run Dry'. The final version of the paper will be presented at the Workshop on Bitcoin....
Bitcoiners have been using the excess heat produced by their mining rigs to stay warm this season. Bitcoiners mining cryptocurrency at home this winter have been staving off freezing temperatures by putting them to good use as heaters. According to the Wall Street Journal, crypto miners in France and the United States report their overall heating costs have dropped — even if the temperature in their homes often gets far above what they’d prefer. Thomas Smith, a photographer based in California, has been using mining rigs to heat his home since at least 2019. He’s also been exploring some....
The “anti-technology” bill could accelerate mining operators' switch to renewable energy, experts say. On April 26, the State of New York put itself at the forefront of the regulatory struggle with crypto, as its Assembly voted for a two-year moratorium on crypto mining operations that use energy generated by fossil-fuel power plants. Depending on how one looks at it, this development could either signal a new alarming legislative trend or a trigger that would accelerate the digital asset industry’s movement toward a more sustainable path. Moratorium with further evaluationThe lower....
Despite what the critics might tell you, blockchain is greener than ever. It’s as reliable as the changing of the seasons: another year, another Earth Day, and another misguided missive about crypto’s outrageous energy consumption.Last week, the New York Times published a piece in their “Climate and Environment” that sought to remind readers of the “astonishing environmental costs” of cryptocurrency mining. It’s a prime example of what’s quickly becoming an editorial subgenre, including references to dubious research claiming that Bitcoin mining alone will push global warming above Paris....