Bitcoin mining likely to hit China green goals, climate impact likely heavy

The researchers have claimed that the carbon emission from mining will impact the climate heavily and undermine the country’s global sustainability efforts.

A group of researchers have warned China about the excess Bitcoin mining performed in the country. The researchers have claimed that the carbon emission from mining will impact the climate heavily and undermine the country’s global sustainability efforts. In a research journal published on Nature Communications, researchers unearthed that China conducts the majority of the mining process. This has also increased electricity consumption. The researchers have predicted that the annual energy consumption of bitcoin will give rise to 130.5 million metric tons of carbon emissions in the next three years. "By investigating carbon emission flows of bitcoin blockchain operation in China with a simulation-based bitcoin blockchain carbon emission model, we find that without any policy interventions, the annual energy consumption of the bitcoin blockchain in China is expected to peak in 2024 at 296.59 Twh and generate 130.5 million metric tons of carbon emission correspondingly," researchers from Tsinghua University and the Chinese Academy of Sciences said.