The amount of greenhouse gases produced by Bitcoin mining has dropped this year – but the cryptocurrency still consumes more power than some nations.
Cryptocurrencies like Bitcoin are created by computer processors carrying out intensive mathematical solutions over a lengthy process and consumes vast amounts of energy.
The most well-known cryptocurrency generates 48.35 million tonnes of carbon dioxide equivalent (MtCO2e), or 0.10% of global greenhouse gas emissions, according to an analysis by the Cambridge Centre for Alternative Finance (CCAF).
Bitcoin creation creates a similar amount of emissions as countries such as Nepal and the Central African Republic, and about half the emissions from gold mining.
The new tool estimates current greenhouse gas emissions of 48.35 million tonnes of carbon dioxide equivalent (MtCO2e), or 0.10% of global greenhouse gas emissions, similar to the emissions of countries such as Nepal and the Central African Republic.
Bitcoin and other cryptocurrencies can be extremely volatile
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Environmentalists, financial institutions and…
