UN Warns: Currency Mining Consumes a Lot of Energy

  • International
  • 6 November 2023
1

A study issued by the United Nations revealed that mining systems for the famous digital currency "Bitcoin" consume more electricity than many countries. According to the study, most of the electricity used in mining Bitcoin comes from fossil fuels that cause global warming, which means that Bitcoin's impact on the environment and climate is very strong.

Digital currency mining devices verify each transaction and generate a block of data added to the chain, which consumes a large amount of electricity due to the huge amount of data processed in each transaction.

According to the study, China, the United States, Russia, Malaysia, Ireland, Iran, Thailand, Sweden, Norway, Singapore, and Britain are among the world's largest electricity consumers in Bitcoin mining.

Source (Al-Arab Newspaper of London, Edited)

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