According to a recent report published on January 25, 2022, by CoinShares, Bitcoin accounted for just 0.08% of the world’s carbon dioxide (CO2) emissions in 2021, indicating that talking points criticizing the network’s power usage appear to have been inflated. The study stated: The research presents the most up-to-date information on the current condition of the Bitcoin mining sector, as well as information on environmental, social, and governance (ESG) problems. As per the data:
Bitcoin environmental debate
Since Bitcoin first emerged, debates about the flagship cryptocurrency’s energy consumption and indirect environmental effect have recurred, becoming a perennial topic that tends to be revived with each subsequent market cycle. In particular, the report established a complete model to predict emissions and a data-gathering mechanism to supply the framework with accurate information. It also labeled the CO2 emitted in the process of mining Bitcoin as “inconsequential,” it stated: Specifically, ESG concerns have motivated a number of corporations to withdraw or discuss discontinuing support for Bitcoin. For instance, Tesla (NASDAQ: TSLA) had previously suspended Bitcoin payments citing environmental concerns.
