The global energy consumption by Maine Bitcoins in 2021 reached a new record and exceeded the peak indicator last year, 67 terravatt-hour per day. According to Bloomberg, by the end of 2021, up to 91 terravatt-hour will leave for the production of cryptocurrencies. It puts Bitcoin for one level with a whole country – the same energy consumes the whole Pakistan per day, Bloomberg writes.
The price and popularity of Bitcoin grow, and more miners are joined by its production, whose computers have low energy efficiency. Their equipment consumes more electricity. Because of the rapidly growing energy consumption before the crypton, two serious problems arose: improving the efficiency of mining and the transition to low-carbon energy sources. Environmental warned that the energy-intensive mining of bitcoins increase carbon emissions into the atmosphere and counteracts the global combating climate change.
Mining is the process of creating digital money, in which computers process data with complex mathematical algorithms. Software that produces bitcoins is designed to perform complex calculations of the transaction block on average in 10 minutes. This process goes
A huge amount of electricity, since Majneram needs very powerful equipment for the production of digital money and transaction checks.
In March, Bank of America published a study according to which bitcoins and cryptocurrency transactions annually generate 60 million tons of carbon dioxide. One of the most tary supporters cryptocurrency, the head of Tesla Ilon Mask in May suspended the sale of electric vehicles for bitcoins, calling them non-environmental. Later, the businessman put forward the condition – transactions will be resumed if at least 50 percent of mining will be based on green energy.