Communications of the ACM
Bitcoin Mining Emissions in China Will Hit 130 Million Tons by 2024
The carbon emissions associated with mining bitcoin in China soon will exceed the total annual carbon emissions of mid-sized European countries.
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Researchers at China's Tsinghua University forecast that Chinese bitcoin mining will emit roughly 130 million metric tons of carbon into the atmosphere by 2024, accounting for about 5.4% of carbon emissions from China's electricity generation.
The team predicted the 2024 emissions peak by calculating when the investment in computing equipment and electricity costs associated with bitcoin mining will overtake the financial benefits.
The researchers used financial projections and carbon emissions analyses to model the emissions footprint, and factored in location.
Tshinghua’s Guan Dabo said regulations will be needed to reduce carbon emissions from bitcoin mining and future emergent sectors, in light of China’s commitment to a 2060 net-zero carbon goal.
From New Scientist
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