Bitcoin mining, once heavily criticized for its environmental impact, has cleaned up its act. New data shows its carbon footprint is lower than many industries, including gold mining.
Key findings:
- Emissions intensity (carbon dioxide per unit of energy) down 52% in four years.
- Bitcoin’s footprint smaller than the banking sector and many other industries.
- Estimated yearly emissions lower than gold mining, ranking Bitcoin 63rd globally.
- Over 50% of Bitcoin mining uses sustainable energy, making it a leader in clean power adoption.
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Shifting to clean energy:
- Miners prefer cheaper and cleaner energy sources like renewables due to economic benefits.
- This boosts network security by increasing the hash rate.
Bitcoin’s green transformation could address a major criticism and attract wider support.
