The global embrace of digital currencies, driven significantly by Bitcoin, has come under scrutiny following a new United Nations study spotlighting the environmental detriments tied to cryptocurrency mining, extending beyond the often-cited carbon emissions to encompass water and land impacts. This study, conducted by the United Nations University Institute for Water, Environment and Health (UNU-INWEH), delves into the activities of 76 nations involved in Bitcoin mining over the span of 2020 to 2021, painting a concerning picture of environmental degradation.
Environmental Underpinnings of Bitcoin Mining
The research delineates a substantial carbon footprint as a result of global Bitcoin mining ventures, with a power consumption tally reaching 173.42 Terawatt hours during the aforementioned period. Analogously, if Bitcoin were a sovereign entity, its energy usage would surpass that of Pakistan—a nation hosting over 230 million…
