Crypto is going mainstream — can it go green as well?
- Crypto use is booming.
- But its effects on the environment raise concern.
Crypto may be on its way to going mainstream, but there are still a ton of questions about how its use will impact the environment.
At the moment, Bitcoin alone is using 0.58% of the planet’s electricity — more than all of Argentina combined. Mining of this cryptocurrency produces 36.95 megatons of carbon dioxide annually. In 30 years, Bitcoin on its own could raise global temperatures by 2 degrees Celsius, or 35.6 degrees Fahrenheit.
Another thing to mention is e-waste. When mining machines are replaced with newer models, the older ones are pretty much abandoned. And because they can’t be recycled, they create damage instead.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account