Bitcoin (BTC) continues to be criticized for its high energy use and carbon footprint. But do these discourses reflect reality in 2022?
According to the latest Bitcoin Mining Network report by CoinShares, the impact of Bitcoin (BTC) on the environment is greatly overstated when compared to the industries of some states.
All Bitcoin miners in the world use only 0.05% of global electricity consumption. While the world population consumes 162,194 TWh of electricity in total, Bitcoin miners consume 89 TWh.
In terms of carbon footprint, Bitcoin mining is in a position to not even compete with various industries.
Bitcoin mining emits 50 times less CO2 than aviation and 25 times less than air conditioners. Even tumble dryers in the world emit 12% more CO2 than Bitcoin mining.
The gold mining industry, which is often compared to Bitcoin, also pollutes the environment three times more than Bitcoin mining.
Bitcoin advocate Alex Gladstein stated that the Bitcoin carbon footprint can only be compared to cruise ships.
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