Business
Bitcoin may soon consume more power than all of Australia — the same as Google, Facebook and Amazon combined – ABC News
As the price of the cryptocurrency continues to skyrocket, Bitcoin miners are tapping fossil fuels across the planet. But can Bitcoin go green, or is climate change…
Bitcoin has a climate problem.
The cryptocurrency uses huge quantities of electricity and as the price of a single Bitcoin has skyrocketed beyond $50,000, Bitcoin miners are now producing as much carbon pollution as a medium-sized nation.
Key points:
- Bitcoin uses as much electricity as a medium-sized nation
- As Bitcoin’s price increases, the electricity consumed increases
- The majority of the electricity consumed by Bitcoin is powered by fossil fuels
“Bitcoin uses more electricity per transaction than…
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