Bitcoin’s Climate Change Impact

“Bitcoin uses more electricity per transaction than any other method known to mankind,” Bill Gates told The New York Times, adding that “it’s not a big climate thing.”

But Bitcoin’s biggest problem is perhaps not even its huge energy consumption, but the fact that a significant proportion of mining enterprises are located in regions (mainly in China) that rely heavily on coal energy. Simply put, according to energy researcher at the Technical University of Munich, Christian Stoll, “coal is fueling bitcoin.”

Bitcoin’s carbon footprint issues

Energy costs of Bitcoin in comparison with other payment systems

Possible Solutions for Bitcoin’s Carbon Footprint

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