Wider Bitcoin Adoption Could Push Global Warming Beyond 2 C Threshold, Report Says
A new report from climate change scientists has raised concerns regarding Bitcoin’s carbon footprint and its potential future impact on global warming.
The report extrapolates existing data for Bitcoin’s electricity consumption together with various projections for the cryptocurrency’s adoption in coming years.
According to the report, in 2017, out of a rough total of 314.2 billion cashless transactions, Bitcoin’s share is estimated to have been around 0.033 percent. While acknowledging that “accelerated growth” is common at the early adoption stage of new technologies, the report nonetheless claims that even if Bitcoin follows a lower-level “median growth trend,” it could come to equal the global total of cashless transactions “in under 100 years.”
Should this materialize, cumulative emissions of Bitcoin usage would “cross the