Fewer and fewer people are using bitcoin for digital payments. Nevertheless, bitcoin transactions are consuming more energy than ever before – the same amount as the whole of Thailand. With a carbon footprint equivalent to the Czech Republic’s (around 114 million tonnes per year), bitcoin is canceling out other climate wins. The global take-up of electric vehicles, for example, is estimated to have prevented 50 million tonnes of CO₂ so far. That’s less than half of bitcoin’s emissions for a single year. And the problem’s getting worse. The growth of bitcoin “mining” powered by fossil fuels is outpacing greener alternatives,…
This story continues at The Next Web
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