China’s bitcoin mines could derail carbon neutrality goals, study says

Apr 7, 2021 | INVESTING

China’s massive bitcoin mining operation could undermine the nation’s efforts to reduce emissions unless the government steps in, according to a new study.The annual energy consumption of China’s bitcoin miners is expected to peak in 2024 at about 297 terawatt-hours, or more than was used by Italy in 2016, the study said.The mines’ annual carbon emissions are set to peak at 130 million tonnes in 2024, or more than the greenhouse gas emissions of the Czech Republic in 2016.The study was…

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