Skip to main content

Bitcoin mining emits 0.08% of world CO2 in 2021

On the growing popularity of Bitcoin in the world, its mining is turning to be a major concern for many governments. Bitcoin mining affects pollution and the green environment in its process. China has banned Bitcoin mining claiming environmental causes. Proof of work is the original crypto consensus mechanism, used in Bitcoin mining. It requires a huge amount of processing power for miners to validate transactions. As per one report, the Bitcoin mining network accounts for 0.08% of the world's CO2 production in 2021. 60% of Bitcoin mining activity in the world comes from fossil fuels. Bitcoin mining companies don’t have the same expenditure while doing the mining.


Mining expenditure differs from to country. Venezuela is the cheapest country in the world to mine 1 bitcoin whereas South Korea is the most expensive country in this regard. On the other side, El Salvador is the first in the world which announced that Bitcoin as its official currency is doing mining activity with natural resources like volcano energy. El Salvador plans to build a Bitcoin city at the base of a volcano, with the cryptocurrency used to fund the project. The site would take advantage of the Conchagua volcano's geothermal energy to power Bitcoin mining. Rising prices draw in greater mining activity, thus having “a greater impact on the environment.

China had cracked down twice on crypto mining in 2021 quoting environmental reasons. Russia and Georgia also follow a similar path. But U.S. lawmakers want to restrict mining activity. The U.S. is the highest consumption of energy for bitcoin mining with 1,380 MW followed by Kazakhstan. Congress sub-committee is focusing on Bitcoin and related Proof-of-work in mining. The U.S. has a target of reaching zero emissions by 2050 and honored the Paris agreement to tackle the climate crisis. U.S. lawmakers want to probe on using high energy in Bitcoin mining.  They asked bitcoin mining companies about the usage of power and where it comes from. It seems that the U.S. may impose restrictions on bitcoin mining.
Labels:

Comments

Post a Comment

Popular posts from this blog

Photo : Savitri during her last days

Even after 4 decades of her death, people are very much interested to watched her (Savitri) biopic. Mahanati turned to be stupendous success. On eve of remembering Savitri, here we posted Savitri photo. The photo seems her last days. The man stand behind Savitri is Gemini Ganeshan who married Savitri. It seems that she suffered bad days during her last days.
Post a Comment
Read more

Suchi Leaks Next Target - Samantha

Wikileaks created huge political uproar among Indian Politics and Bureaucrats. Suchi leaks causes disturbances both in Tollywood and Kollywood. Female Singer Suchitra discloses personal issues of celebrities in Telugu and Tamil. She leaked few photographs of Heros and Heroines who spend their personal time in private parties. Karthik, husband of Suchitra responded on leaks that she was not mentally firm. Few actors in particular Tamanna, Trisha, Dhanush, Anirudh and Rana were feel uncomfortable on these leaks. Trisha reacted on Photo of Rana who kissed her said that it was just peck between two friends. There was nothing more beyond that. Suchitra said that she was raped by Dhanush and Anirudh after the party in the night. In her another leak, Tamanna was too raped by Dhanush. As per buzz, Suchi's next leak will be related to Heroine Samantha. Earlier, Samantha had love affair with Hero Siddhartha. Both were participated in Rahu-Kethu pooja in Srikalahasti. There were many go...
Post a Comment
Read more

Girl signed on 100/- Stamp Paper for getting 5K!

YSRCP Govt gave notification for more than 2.6 lakh jobs for Village Volunteers and was selected through interview process. All unemployed youth from SSC to Graduate were applied for the posts. 
Post a Comment
Read more