Global Crypto Mining Has Gotten Dirtier Since China’s Ban on Crypto, New Study Says

Beijing’s ban on cryptocurrencies final yr spurred an exodus of crypto miners to different nations, together with locations the place renewable power was much less more likely to be behind mining operations. Researchers now claim the  carbon footprint of crypto mining has elevated by 17%, overturning a standard perception that the trade was shifting towards a brighter, greener future.

A brand new peer-reviewed study within the power analysis journal Joule says that there was a decline in renewable power powering the Bitcoin community from 2020 to 2021, plummeting from a 2020 common of 42% to simply 25% final August. Renewable sources like wind, photo voltaic or hydropower are more and more being eclipsed by dirtier fuels like coal and different fossil fuels as Bitcoin mining transitions to nations like Kazakhstan and the United States.

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