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The growth of bitcoin hits the environment

MOSCOW, 5 Feb – PRIME. The rise in the price of cryptocurrency has gradually led to the fact that more and more people are connecting to its mining. At the same time, bitcoin mining leaves a large carbon footprint. It is reported by CNBC.Bitcoin has passed the $ 37 thousand mark According to analysts from Digiconomist, the amount of electricity spent on mining is comparable to the amount consumed by the whole state in a year. At the same time, mining produces 36.95 megatons of carbon dioxide per year, similar to New Zealand. Experts at the Cambridge Center for Alternative Finance have calculated that mining accounts for about 0.5% of total global electricity consumption. This is roughly half the amount consumed by idle household appliances in the United States. Wasted energy, such as phone chargers or microwave ovens, could power Bitcoin networks for several years. Bitcoin’s growth began in March 2020 amid news of the evolving COVID-19 pandemic, when global stock markets and oil prices crashed. Over the past year, this cryptocurrency has quadrupled in price and by the beginning of January 2021 almost broke through the $ 42,000 mark. Then the bitcoin price corrected and lost about 10 thousand dollars. By the end of January 2021, the cost of the most popular cryptocurrency exceeded $ 33.7 thousand. Elon Musk gave a forecast for the future of bitcoin Analysts of the Luno crypto exchange and the OSK brokerage company predict bitcoin growth to $ 50 thousand. In their opinion, in the next 3-10 years, the popularity of bitcoin may grow, while gold, on the contrary, risks becoming less attractive to investors.

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