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Bitcoin mining — What are the true climate change risks? Bitcoin mining — What are the true climate change risks?

Bitcoin mining — What are the true climate change risks?

Bitcoin mining is coming under increasing fire for ecological reasons, however, data shows its environmental impact is less than that of the gold and banking sectors.

Bitcoin mining — What are the true climate change risks?

Cover art/illustration via CryptoSlate

The European Central Bank (ECB) published a report on July 14 that covered many points related to Bitcoin and Ethereum mining, including energy consumption and Proof-of-Stake (PoS) as an alternative mechanism.

The report, titled “Mining the environment – is climate risk priced into crypto-assets?,” determined that Proof-of-Work (PoW) mining cannot co-exist with “the green transition” and even hinted at an EU-wide ban by 2025.

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