Bitcoin mining is ‘less green than ever’ after leaving China
Bitcoin’s carbon dioxide pollution has gotten even worse since China ousted Bitcoin miners last year, according to a new analysis. It’s likely the result of Bitcoin miners substituting China’s abundant hydropower with coal and gas, experts say.
“We actually see Bitcoin becoming less green than ever before,” says Alex de Vries, lead author of the analysis published last week in the journal Joule. That directly counters continued claims by industry groups that renewable energy would clean up Bitcoin’s operations.
The new report shows that the Bitcoin boom is becoming a bigger problem for the world’s efforts to eliminate fossil fuel pollution. Mining bans, like the one China put in place last year, don’t seem to be very effective in curbing...