Published on May 17th, 2018 | by bitcoin0
Research shows Bitcoin mining to consume 0.5% of world’s energy by the end of 2018.
Economist Alex de Vries, who published an article on “Bitcoin’s Growing Energy Problem,” yesterday, May 16, in scientific journal Joule, told the Independent that Bitcoin (BTC) mining will use 0.5 percent of the world’s energy by 2018.
In mid-February, it was reported that crypto mining in the country of Iceland would consume more energy than households in 2018.
The debate over whether Bitcoin mining is overly harmful for the environment is seen by some as a non-issue, due to the real need for Bitcoin in underbanked countries.
Conversely, the technology behind Bitcoin, blockchain, is being used to alleviate environmental impact in some cases.
This week, IBM announced a partnership with Veridium Labs with the aim of tokenizing carbon credits to allow companies to better track their carbon footprint through blockchain, potentially allowing them to reduce their carbon impact.