The so-called Bitcoin fever intensified a few years ago, but since the price rose in mid-2017, more and more facilities and huge "farms" were created to undermine Bitcoin. This results in a carbon footprint that is so large that it is equal to that of a small country.
Bitcoin mines in Iceland will soon consume more energy than all residents of the country
Bitcoin fever and cryptocurrencies have made Iceland a paradise for miners …
Read more read
The biggest problem with Bitcoin and cryptocurrencies is that a large amount of energy is needed for mine. So many install their farms in countries where electricity is less expensive compared to others, such as Iceland, where bitcoin mining is about to consume more energy than all residents of the country.
A recent report published in The Guardian assures that the cryptocurrency mine consumes so much electrical energy that they emit about 20 megatons of CO2 into the atmosphere every year, just like the Republic of Ireland and the equivalent that produces one million transatlantic flights.
In fact, cryo-monopoly miners would spend nearly 80% of their profits on electricity expenditures, a significant figure given that Bitcoin has drastically reduced its price to just over $ 6,400 today, as it peaked at nearly $ 20,000 for Bitcoin. a few months ago. Therefore, for many people, a first step towards a solution to the problem of excessive energy consumption in cryptocurrency mining is regulating it, just as laws regulate the gas emissions of transport means. [vía The Guardian]