The energy used for crypto mining has been a serious topic of discussion in the entire industry for a while. The carbon footprint problem that emerged as a result of Bitcoin mining has been highly criticized by environmentalists; Tesla CEO Elon Musk also announced that Tesla will not receive payments in Bitcoin for this reason. In this context, the crypto industry continues to increase its efforts day by day in order to mine with green energy.
The two officials, who are the general managers of the Swedish Financial Supervisory Authority and the Swedish Environmental Protection Agency, made some comments and explanations about crypto mining in the country in this direction. Stating that if crypto mining continues in this way, there will be no renewable energy left in the country, the officials stated that in case of this, it will be impossible to fulfill the obligations brought by the Paris Agreement.
An average of 900 Bitcoins are mined every day
Sweden, which needs renewable energy to act in accordance with the Paris Agreement; It is struggling to meet the requirements of this agreement due to excessive consumption by crypto miners. Citing this situation as a reason, the general directors of both institutions are of the opinion that crypto mining should be banned. Accordingly, one of the directors stated that he thinks banning proof-of-work mining within the US could be the first step towards using energy-efficient crypto mining methods. It also means that renewable energy will be used as efficiently as possible.
According to the estimates made by Cambridge University, it is possible to drive an electric car for 1.8 million kilometers with the energy used to mine just one Bitcoin, which is the equivalent of 44 tours around the world. Considering that 900 Bitcoins are mined on average every day, it is not difficult to understand why this is not a sensible use of renewable energy.
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