Bitcoin

<p>In a recent report, the UN looks at the energy consumption of Bitcoin, highlighting a close link between the price of BTC and its energy consumption. But what is the reality?</p>
<h2 id="h-bitcoin-s-energy-consumption-a-cause-for-concern">Bitcoin’s energy consumption: a cause for concern</h2>
<p>The UN report revealed that Bitcoin mining, despite its dematerialized nature, has a considerable carbon footprint.</p>
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<p>Over the period 2020-2021, Bitcoin consumed 173.42 terawatt-hours of electricity. This makes it a major energy consumer.</p>
<p>But that’s not all: the meteoric rise in Bitcoin’s price in 2021 has led to a 140% increase in this consumption. An alarming situation, especially when you consider that 67% of this electricity comes from fossil fuels.</p>
<p>Fortunately, it’s not all doom and gloom, as <a href="https://cointelegraph.com/news/bitcoin-price-mining-energy-highly-correlated-un-report" target="_blank" rel="noopener noreferrer nofollow">Cointelegraph</a> reports. While the UN report highlights current drifts, it also highlights the efforts made by the crypto community to turn to greener energy sources.</p>
<p>Hydroelectricity, nuclear, solar and wind power now account for a growing share of the energy consumed by Bitcoin mining.</p>
<p>Numerous initiatives are seeking to reduce Bitcoin’s carbon footprint. Among them, the opening of data centers powered by renewable energies is becoming increasingly common.</p>
<h2 id="h-equipment-manufacturers-key-players-in-the-ecological-transition">Equipment manufacturers, key players in the ecological transition</h2>
<p>The Bitcoin mining industry is aware of current environmental issues and is working hard to offer more environmentally-friendly solutions.</p>
<p>Equipment manufacturers, in particular, are playing a key role in this transition. Companies like Bitmain are launching more energy-efficient models, and many industry players are mobilizing to locate their mining operations in regions benefiting from abundant renewable energy.</p>
<p>Bitcoin’s environmental impact is undeniable. However, in the face of today’s climate challenges, the crypto community is showing that it is ready to evolve and adapt.</p>
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<p>While the road to 100% green crypto is still a long one, the first steps have already been taken. And who knows, maybe Bitcoin, once singled out for its energy consumption, will one day become a symbol of ecological transition. Elsewhere, find out how El Salvador is revolutionizing Mining with green energy.</p>

UN Takes a Look at Bitcoin Pricing and Mining

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