Climate Changed
Bitcoin Could Theoretically Put Paris Climate Goals Out of Reach
A provocative analysis by Hawaiian researchers presupposes runaway success for cryptocurrency.
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If bitcoin were to become a true global transactional currency, the electricity needed to mine it alone would generate enough carbon dioxide to push the planet beyond 2 degrees Celsius of warming within a quarter-century.
The creation of new bitcoin requires immense computational effort, and therefore enormous amounts of energy. “If this takes off it will be something that we will not be able to control” said Camilo Mora, associate professor at the University of Hawaii and lead author of the analysis published this week in Nature Climate Change.