What impact does bitcoin mining have on the environment?

The wave of Bitcoin mining has subsided a bit, but the impact of electricity consumed by miners on the environment can still be seen. If you want to know more about the irreparable impact of mining on the environment, this Gadget News article will help you. Stay with us.

Global warming is one of the biggest problems that future generations have to deal with. Although the main reason for this unprecedented warming is the activity of industrialized countries, miners have also had a significant impact on the environment and increasing global warming. The energy used by miners is mostly consumed by non-renewable energies and this causes irreparable damage to the environment. In the continuation of this article from Gadget News, we will discuss the effects of mining on the environment and ways to prevent these damages. Stay with us.

Miners are destroying the earth!

Until a few years ago, few people knew about the world of cryptocurrencies; But now in developed countries, almost all people are aware of cryptocurrencies and many people earn money by buying and selling cryptocurrencies. The crypto market has brought a lot of profit to many people, but now by examining the irreparable damage of mining, which is one of the most important steps in the crypto world, we can also see one of the most important hidden losses in the world of cryptocurrencies.

The news published in the media show that this young Lebanese earns more than 20 thousand dollars a month by mining Bitcoin.

Published information shows that about 40 to 75 percent of the electricity needed for mining is supplied through renewable sources. However, this statistic is somewhat incomplete and does not show the bigger picture of the crypto and mining world. Many of those who make money from Bitcoin mining do not disclose their business information to law enforcement, and no accurate statistics of all miners in the world are available. The number announced about the electricity supplied to miners through renewable sources is only related to developed countries and this statistic cannot be measured in other countries.

Mankind cannot produce as much electricity as he wants, and the electricity needed by miners must be supplied from sources that are used by more important industries. The European Union believes that the electricity used by the miners could have been used by the steel and battery industries. Although these industries can also harm the environment, they also provide significant services to mankind in return for their harm.

Why is Bitcoin mining electricity consumption high?

Published statistics about the amount of electricity consumed for Bitcoin mining and mining are extremely scary! Bitcoin mining, due to the high consumption of electricity, can have significant environmental effects. In fact, to mine Bitcoin, users need powerful computer equipment that consumes a lot of electricity to run the required cryptographic algorithms.

Bitcoin mining is usually identified as one of the most destructive activities for the environment.

For example, an analysis of data from the year 2020, which was considered the peak period of mining, shows that the electricity consumption of Bitcoin mining is more than the electricity consumption of many countries. According to statistics, the electricity consumption of mining is much higher than the electricity consumption of countries such as Argentina, the Netherlands, and England. According to this analysis, the electricity consumption of Bitcoin mining this year was about 120 terawatts.

Even if the published statistics about the use of renewable resources for Bitcoin mining are true, mining is still one of the most harmful activities for the environment that can have a negative impact on global warming.

Companies active in the field of energy and mining are merged

In recent months, many companies working in the field of energy production have made significant inroads into the world of Bitcoin mining, and at the same time, miners continue to use more and more energy resources. Many people believe that companies that don’t move into Bitcoin mining are missing out on profitable opportunities in this huge industry; Because most of the times, Bitcoin mining is more profitable than selling energy.

No one is against miners! Now companies active in the field of energy are going to enter the world of cryptocurrency mining and harm the environment more than ever.

This case also does not help the environment and causes companies active in the field of energy to kill the environment with an ax for more profit and get the most possible profit from the cheap energy they have.

In any case, these days mining or Bitcoin extraction has become one of the biggest enemies of the environment and in the near future we will see the scary effects of mining. It remains to be seen what the governments will do to limit mining in the future.