Crypto’s Environmental Impact: Key Facts
Crypto mining, especially Bitcoin, is facing increased scrutiny for its environmental impact. Here are some important facts:
1. Massive Energy Consumption: Bitcoin alone consumes 1174 TWh of electricity annually, more than entire countries like the Netherlands.
2. Carbon Emissions: A significant portion of crypto mining uses 67% fossil fuel-based energy, contributing to climate change.
3. Sustainable Alternatives: Many projects are shifting to renewable energy sources and exploring proof of stake (PoS) mechanisms to reduce environmental harm.
As the crypto industry grows, the need for sustainable practices becomes ever more urgent. How do you think the sector can balance innovation with sustainability?
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