Bitcoin Uses a Ton of Energy — On Purpose. Is it Worth It?
Bitcoin mining uses as much energy as mid-sized countries like Sweden. It’s designed that way to be super secure, but all that digital mining contributes megatons of carbon emissions to the atmosphere at a time when we need to be slashing them. And even when bitcoin mining uses renewable power, it’s drawing that power away from our energy transition.
Climate One · Climate One from The Commonwealth Club
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Show Notes
Studies estimate that global bitcoin mining uses more electricity than most countries, and that bitcoin mining may be responsible for about 65 megatons of carbon dioxide a year, comparable with the emissions of Greece. Some bitcoin operations are bringing old coal plants back on line, even as lobbyists for the bitcoin mining industry argue that mining operations can have a positive impact on the climate by creating more demand for carbon-free power. But even if all of the power were derived from green sources, is bitcoin mining really the best use of renewable electricity?
This episode features a report by multimedia journalist Lily Jamali of the public radio program Marketplace, who takes us inside a crypto mining facility in upstate New York.
Guests:
Rolf Skar, Senior Advisor, Greenpeace USA
Brittany Kaiser, Chair of the Board, Gryphon Digital Mining
Thomas Cmar, Senior Attorney, Earthjustice
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