Pseudo Environmentalists Target Bitcoin Mining, Ignore AI’s Carbon Footprint. Read CoinChapter.com on Google News
NAIROBI (CoinChapter.com)— Criticism against Bitcoin mining continues to escalate, with environmentalists labeling it harmful due to its energy consumption.
However, the same voices often overlook the environmental impact of artificial intelligence (AI), which, unlike Bitcoin, has seen a rise in carbon emissions. The disparity in scrutiny raises questions about the underlying motives of these critics.
Bitcoin’s Socio-Economic Benefits Ignored
In 2022, Governor Kathy Hochul signed a law banning Bitcoin mining operations that rely on carbon-based power in New York, aligning with the European Central Bank’s (ECB) stance. The ECB described Bitcoin as an “unproductive, energy-intensive technology” that hinders climate goals.
Despite these claims, Bitcoin’s energy consumption has decreased, contrary to the narrative.
In Malawi, a small community uses surplus hydroelectric power to mine Bitcoin, providing a stable income and contributing to financial stability. These benefits are often ignored in the debate on Bitcoin’s carbon footprint.
Critics frequently dismiss these socio-economic benefits, viewing Bitcoin solely as an environmental threat. ‘The Dirty Coin‘ documentary highlights the battle between New York-based Bitcoin miner Greenidge Generation and Sierra Club-supported environmentalists, showcasing the misinformation fueling opposition.
This misinformation leads to executive actions like Hochul’s, further intensifying hostility towards Bitcoin mining.
Charts of global electricity use and CO2 emissions by data centers and crypto. Source: X
However, data reveals a different picture. In 2022, Bitcoin mining accounted for a small fraction of global electricity use and CO2 emissions.
On the other hand, projections for 2027 show that data centers, including AI operations, are expected to consume more than double Bitcoin’s electricity share while contributing more to global CO2 emissions.
AI’s Environmental Impact Downplayed
While Bitcoin faces heavy criticism, tech giants like Amazon, Microsoft, and Meta are expanding AI operations, often concealing the environmental damage. Microsoft reported a 30% rise in emissions since 2020 despite their claims of using renewable energy.
These companies use unbundled renewable energy certificates to obscure the true carbon impact of their AI projects.
Gary Marcus criticizes Microsoft’s increased carbon impact. Source: X
The International Monetary Fund (IMF) published a report highlighting the growing carbon emissions from AI while downplaying Bitcoin’s declining impact. Daniel Batten criticized the report and suggested that the IMF’s focus on Bitcoin could relate to its push for central bank digital currencies (CBDCs).
The criticism of Bitcoin mining appears increasingly hypocritical when compared to the environmental impact of AI. The double standard raises concerns about the real motives behind the environmentalist agenda, particularly as tech giants and institutions like the IMF advocate for alternatives that align with their financial interests.
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