Cryptocurrency mining is an energy-intensive process that requires significant computational power. This leads to high electricity consumption and substantial carbon dioxide emissions. According to a study by the University of Cambridge, the annual electricity consumption for Bitcoin mining exceeds the energy consumption of countries like Argentina. Cambridge

Another critical aspect is the use of fossil fuels for electricity production, exacerbating environmental problems. According to a study conducted by the Technical University of Munich, CO2 emissions from Bitcoin mining in 2020 amounted to approximately 22-22.9 million tons. TUM

Despite this, some companies are actively seeking ways to reduce their environmental impact. For example, Square is investing in the development of green mining using renewable energy sources. Square