CCAF’s bitcoin mining study claims that the Bitcoin network produces 48.35 million tons of carbon dioxide per annum.
The report highlights how bitcoin’s increasing popularity has put a spotlight on “environmental issues associated with the production of Bitcoin.”
CCAF’s study claims that the Bitcoin network produces 48.35 million tons of carbon dioxide per annum. The metric equates to roughly 0.10% of global greenhouse gas emissions and Neumueller says it’s about “14.1% lower than the estimated GHG emissions in 2021.”Neumueller’s research further details that 37.6% of the energy leveraged by bitcoin miners derives from sustainable types of energy. CCAF’s “best-guess estimate” of 0.
Annualized GHG emissions as of September 21, 2022, via the Cambridge Centre for Alternative Finance . Bitcoin mining energy represents a touch less than half of the 100.4 million tons of carbon dioxide gold mining uses per year. Neumueller believes that the GHG emissions in 2022 were lower than in 2021 because of a “substantial decrease in mining profitability.”
CCAF notes that the decline may have been during a shift from less efficient mining rigs to more efficient next-generation machines. Neumueller says that CCAF’s assumption has been “confirmed by
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