US Bitcoin Carbon Footprint Equals Emissions from 6 Million Cars, Reveals Report

US Bitcoin Mining's Carbon Footprint Raises Environmental Concerns

Bitcoin mining in the US is generating carbon emissions equivalent to those produced by 6 million cars each year, according to a report by environmental groups. The study reveals that over 38% of global Bitcoin mining now occurs in the US, resulting in 27.4 million tonnes of carbon emissions annually.

Environmental Impact and Calls for Action

The report underscores the growing environmental impact of Bitcoin mining, which has tripled since mid-2021. Environmental advocates are urging a ban on new mining operations in the US to mitigate climate change threats. They argue that the energy-intensive nature of Bitcoin mining could undermine efforts to decarbonize and combat global warming.

Industry Response and Sustainability Claims

The Bitcoin industry has pushed back, asserting that the cryptocurrency sector consumes only 0.09% to 1.7% of total US power. Additionally, data from the Bitcoin Mining Council indicates that over 50% of the energy used by miners comes from renewable sources, suggesting a shift toward sustainability.

Regulatory and Legislative Measures

In response to these findings, the New York legislature has passed a law halting new fossil fuel-based mining operations. This move reflects growing regulatory scrutiny of the cryptocurrency sector's environmental impact.

Conclusion

The debate over Bitcoin's environmental footprint continues, with both critics and proponents presenting compelling arguments. As the cryptocurrency sector evolves, balancing innovation with sustainability remains a critical challenge.