Bitcoin Mining Exacerbates Environmental conundrum, study Indicates

Bitcoin mining consumes heavy electricity and analysts argue that it exacerbates environmental conundrum. Researchers from the University of Cambridge found that bitcoin uses more electricity than Argentina, UAE and Netherlands.

The online tool used in the research ranked Bitcoin’s energy consumption higher than Argentina (121TWh), Netherlands (108.8) and UAE (113.2TWh). The study revealed that Bitcoin consumed about 121 terawatt-hours (TWh) per year.

Tesla’s decision to invest $1.5 billion in Bitcoin has been criticized by most environmental activists. Critics say that it undermines its environmental reputation. After Tesla announced its bitcoin investment its value surged rapidly. The electric car dealer firm painted a different image of a company whose enterprise is focused on clean energy.

The rate of energy consumption is directly proportional to the bitcoin value; when the price slumps the energy used falls and when the value skyrockets the amount of energy consumption rises. Activists advocate for the introduction of carbon tax on cryptocurrencies in order to control those who invest in Bitcoin.

What is Bitcoin Mining?

Bitcoin mining involves the process of solving complex computational puzzles using specialized computers that are connected to the cryptocurrency network. The computers are mostly working to solve puzzles and this makes them consume lots of electricity.

Analysts argue that the excessive energy consumption leads to more carbon dioxide emissions to the atmosphere.

Comments

How Human Noise Kills Marine Species, as revealed by Scientists

Scientists have warned that the discord of noise made by humans is harming marine species . A comprehensive assessment revealed that large noise from human activities was as harmful as pollution, overfishing and climate change . The study that was conducted by the Journal Science exposed how marine animals can hear from far distances than they can see or smell. According to a report published in the Guardian, most of the marine life uses sound to catch prey as well as attracting a mating partner. Prof Carlos Duarte of King Abdullah University in Saudi Arabia argued that: “Marine animal can only sea up to around 10 meters, smell up to around a hundred meters, but they can hear across the entire ocean basins.” The research concluded that sound “is very important in the marine ecosystems, and noise is pervasive, affecting animals at all levels .” The increasing cacophony in the marine habitat is interfering with how marine animals respond to various survival...

Carbon dioxide to Make Jet Fuel, Study Reveals

Photo Source: twitter.com Aircrafts release a lot of carbon dioxide in the atmosphere which contributes to climate change. A research that was conducted by Science News and reported on December, 22 2020 stated that there was a new iron-based catalyst that has been invented to convert carbon dioxide into jet fuel. It is only a matter of time that carbon dioxide pumped to the atmosphere by planes could be sucked and used to power the same. The air travel’s footprint in carbon emissions could be tremendously curtailed, if the carbon dioxide that is released is recycled to generate fuel. As per Science News reports, Air transport contributes to about 12 percent of the entire transportation carbon-related emissions. Unlike cars, aircrafts cannot carry bigger batteries which can be run on electricity generated from wind or solar panels. The current breakthrough in the conversion of carbon dioxide to fuel involves cheap ingredients such as iron and transformed through a single s...

Why Mt Kenya Leaders are wary about Change of Guard

As 2022 succession battle gains momentum in Kenya, leaders drawn from Mt Kenya region have become more concerned of their political future and survival. Mt Kenya region is predominantly occupied by the agikuyu, ameru and aembu communities. The region has produced three out of the four presidents. It boosts about the tyranny of numbers, thus making the region a battle ground for leaders from other region seeking to succeed President Uhuru Kenyatta. Central alone produced Mzee Jomo Kenyatta, Mwai Kibaki and Uhuru Kenyatta as presidents. The only other Kenyan president drawn out of the region was Daniel Arap Moi. In the recent past, the region has gone against the tide of State operatives as a sign of revolt over what they term as negligence from the government, despite electing one of their own to the much coveted seat. Deputy President William Ruto has taken advantage of the brewing rebellion through making serious political forays in Central and its vicinity. ODM leader Rail...

Phode News Hub

Search This Blog