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Is Bitcoin mining bad for the environment?

The mining of cryptocurrencies is becoming more popular than ever, fuelling the crypto market with eco-friendly solutions.

There is a general perception in the world that Bitcoin uses too much energy and is bad for the environment. But what if you found out it’s actually good for the environment while getting better each year? 

This Twitter thread by “Documenting Bitcoin” shows endless examples of how Bitcoin uses sustainable energy. We summarized the highlights in this article. 

A lot of bad rap on cryptocurrency mining

Many people claim crypto mining uses huge amounts of power and they are right. But they also say it is bad for the environment, which may not be entirely true. The increased demand for electricity for Bitcoin mining has allegedly led to enormous carbon emissions, emitting 200 million tonnes of C02 since its creation.

Related article: Why is mining the safest entry into the crypto world?

However, there are numerous examples of how Bitcoin is mined through sustainable and renewable energy. This trend is expected to continue, which could lead to decreased emissions of C02. 

Malawi mines Bitcoin through hydropower

For instance, Bitcoin mining in Malawi utilizes clean and excess hydro energy, connecting 1,600 families to the grid. The project runs on environmentally friendly hydropower, which leaves a tiny environmental footprint compared to traditional mining.

This is just one of many examples of how green energy is used to mine Bitcoin, empowering developing countries globally. The independence of the fluctuation of Bitcoin’s price is what will help these environmentally friendly projects survive and avoid potential bankruptcy

Lebanon’s economy boosted thanks to Bitcoin

Lebanon is in big trouble as its local currency lost most of its value. Minimum wages tumbled and pensions became worthless. This is what massive inflation can do to developing countries. Frightening. People were forced to look for other options, which led to increased criminal activities, but also the adoption of crypto.

Lebanon’s inhabitants want to get paid in cryptocurrencies like Bitcoin or Litecoin (LTC) and spend in Tether (USDT). But most importantly, they learned to mine crypto through hydropower or solar power. In the end, it’s necessary to look for opportunities outside of the country when the government fails to run the economy. 

Virunga National Park saved with Bitcoin

Virunga is the oldest national park in Congo, which was forced to close during the pandemic. Tourism was hurt, and they must have looked for new options. The answer is Bitcoin. Virunga is the first national park to operate a Bitcoin mine as part of an effort to preserve the area’s forests and world-famous fauna. 

Also read: Ukraine wants to become the leading jurisdiction for digital assets

It’s a piece of a bigger plan to put Virunga’s valuable resources to use for the park and the inhabitants, including the land and the hydropower. This mine’s operations may seem controversial, but they’re also profitable and environmentally friendly. Employee salaries and park improvements like new roads and water pumping stations are already being funded in part by Bitcoin sales.

Volcano-powered Bitcoin mining?

El Salvador is known for being a pro-Bitcoin country. It is actually buying Bitcoin regularly, worth millions. But it doesn’t stop there. The country’s Tecapa volcano reportedly creates more energy than they can spend, which brought the idea for green Bitcoin mining, powered by a volcano.

Mining Bitcoin with the extra energy can help decrease the costs rapidly, and bring more profits. El Salvador is also planning on launching “Volcano Bonds,” which would support this energy-efficient project. How cool is that?

Bitcoin mining warms rooms and water

There are endless examples of how Bitcoin mining can be utilized. This person uses mining operations to heat a 40-room hotel and water. The use cases of crypto mining are tremendous, and these are just a few. If you think Bitcoin is a scam, think again. 

Final thoughts

Crypto mining started simply on laptops and computers. With the increased hash rate and difficulty of mining, it became impossible for regular PCs to mine anymore. This led to a boom in the creation of huge facilities that mined Bitcoin for profits.

However, the trend is shifting toward a more efficient and smart way to mine. People are learning to fund their mining operations eco-friendly or through the power that has no use. If the trend were to continue, it could help millions of people all around the world, fuelling a better future. 

I got into financial markets by accident in 2012 and started with Forex trading. Later in 2017, I started investing in stocks in cryptocurrencies and began writing articles profess...


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