The post Cryptocurrency and Environmental Sustainability: Challenges and Solutions appeared on BitcoinEthereumNews.com.

Are you worried about the environmental impact of cryptocurrency? Trust me, I get it – I’ve wrestled with this concern too and really dove into the research to understand it better. The good news is, we’re seeing some promising developments. Take Ethereum’s recent switch to proof-of-stake, for example. It slashed energy use by a whopping 99%, which shows real progress is possible when we put our minds to it. I’m excited to share some practical solutions I’ve found that could help make crypto more sustainable. So grab a coffee and get comfy – we’re about to geek out on some green blockchain insights! Key Takeaways • Cryptocurrency mining uses a lot of energy, with Bitcoin alone consuming 151 terawatt-hours yearly, which is 0.59% of global electricity use. • Bitcoin mining creates about 10.52 kilotons of e-waste annually from outdated mining machines, contributing to its 55 million ton yearly CO2 output. • Ethereum’s switch to proof-of-stake reduced its energy use by over 99%, showing how this protocol can make crypto more sustainable. • Many crypto miners are now using renewable energy sources like solar, wind, and hydroelectric power to reduce their carbon footprint. • Governments are considering new rules to promote responsible mining practices, including energy caps and renewable energy requirements. Key Environmental Impacts of Cryptocurrency Mining Crypto mining takes a big toll on our planet. It guzzles energy and creates mountains of e-waste. High Energy Consumption I’ve seen firsthand how cryptocurrency mining gobbles up energy. Bitcoin alone uses about 151 terawatt-hours yearly, which is 0.59% of global electricity use. That’s a huge amount! To put it in perspective, each Bitcoin transaction eats up around 435.61 kilowatt-hours of power. The United States leads the pack in mining, accounting for over a third of all Bitcoin mining activities. Bitcoin’s energy consumption is…

---

Filed under: News - @ September 29, 2024 6:26 pm