According to research, bitcoin mining accounts for 0.10 percent of global greenhouse gas emissions. According reports published by the Cambridge Center for Alternative Finance (CCAF), global Bitcoin mining is responsible for about 0.10% of global greenhouse gas (GHG) emissions, or 48.35 million tons of carbon dioxide per year. In addition, the CCAF report details that “Bitcoin’s environmental impact is more subtle and complex” and “underlines the need for independent data” due to complex issues.
Cambridge Center for the Study of Alternative Finance: Bitcoin network produces 48.35 million tons of CO2 per year.
On Tuesday, the Cambridge Center for Alternative Finance (CCAF) released a new report, A Deep Dive into Bitcoin’s Environmental Impact, written by CCAF project manager Alexander Neumüller. The report shows how the growing popularity of bitcoin attracted the attention of “environmental problems associated with the production of bitcoin.” The JHG number was released from September 21, 2022 through the Cambridge Center of the Alternative Fund (CCAF). Neumüller’s research further explains that 37.6% of the energy used by Bitcoin (BTC) miners comes from sustainable energy sources. CCAF’s “best estimate” of 0.10% of global greenhouse gas emissions is equivalent to the same amount of energy consumed by Nepal or the Central African Republic. Annual greenhouse gas emissions to 21 September 2022 from Cambridge Center for Alternative Finance (CCAF).
The CCAF realizes that the decline may have been during the change to the most effective next generation of machines from the lowest mining platforms. CCAF’s assumption is that “Bitcoin’s mining workers are confirmed by evidence,” says Newwelller. The CCAF project completes the study with the allusion to the “interesting ideas and achievements formed around the Bitcoin tunnel.” These include concepts such as gas expansion, recovery and gas use. “Time will tell if these are new ideas that don’t live up to their promise, or if they will become an integral part of the Bitcoin mining industry in the future,” Neumueller’s report concluded.