All that is mined is not green: Bitcoin’s carbon footprint is hard to estimate
The debate around the environmental impact of the mining ecosystem is heating up again as scholars have provided a dose of new perspectives on the subject. In one piece of comments is written by Noah Smith, a former assistant professor of finance turned columnist, targeting Bitcoin (BTCthe mining industry in March, showing that the network’s continually increasing energy consumption is simply not sustainable. Smith believes that more countries will be holding back Bitcoin mining as they use more energy, as an ever increasing BTC price is always accompanied by an increased hash rate.
While Coin Metrics founder Nic Carter has contradict some points highlighted in Smith’s column, there appears to be a split opinion around the amount of energy Bitcoin mining draws, these energy sources, and the carbon footprint the industry has. on the planet.
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