🚀 Experts fight back against IMF's accusations of carbon emissions from cryptocurrency mining! 💥
👉 Cryptocurrency and energy experts have spoken up! They disagree with the International Monetary Fund's (IMF) recent report attacking the environmental impact of Bitcoin mining.
📅 Event review: On August 16, Daniel Batten published an article on X that directly refuted the IMF's new report on Bitcoin mining carbon emissions released on August 15. He said the IMF used some flawed rhetorical techniques, such as the "guilt by association" approach, to confuse Bitcoin mining with energy consumption in artificial intelligence data centers.
🔍 The IMF report is called "Carbon Emissions from Artificial Intelligence and Cryptocurrency Surges" and recommends using tax policies to help effectively mitigate. They also labeled both cryptocurrency and artificial intelligence as technologies that threaten the environment.
🤷 Batten believes that the IMF's attack may come from central banks that have been damaged by Bitcoin. He said that unlike those AI data centers, Bitcoin mining has been shown to have a positive impact on the power grid.
📊 He also pointed out that the IMF's own data sources show that by 2027, the share of cryptocurrency in global electricity use and carbon dioxide emissions will decline, while the AI industry will rise.
🤔 It is reported that the IMF report also mentioned the idea of taxing cryptocurrency mining, saying that this can drive the industry to reduce emissions, increase government revenue, and reduce carbon emissions.
👎 Batten finally concluded that any report from the IMF "should be regarded as a low-standard study" and is useless to policymakers and regulators.
🔄In summary, although the IMF report points out that Bitcoin mining has energy consumption problems, expert Daniel Batten believes that it has a positive effect on grid integration and energy efficiency.
🎲 At the same time, the cryptocurrency mining industry is moving towards the use of clean energy and improving energy efficiency, so it is not fair to generalize the entire industry, and more detailed analysis may be needed to assess its true environmental impact.
💬What do you think of the IMF report and the experts' rebuttal? Do you think Bitcoin mining really has a greater impact on the environment than it actually does?See you in the comments section!
