In a shocking turn of events, it appears that Bitcoin is now being linked to the effects of climate change. According to a recent study published by the International Panel on Climate Change (IPCC), the extreme energy demands of Bitcoin mining is having a hugely detrimental effect on the environment.
The study found that the sheer amount of energy needed to keep the Bitcoin network running is having a huge impact on global warming. In fact, the energy used in a single transaction could power a toaster for weeks, and the energy needs become even more pronounced when multiple transactions are conducted.
The study went on to reveal that the energy needed to facilitate a single Bitcoin transaction is the equivalent of burning 300 barrels of oil. This means that the entire Bitcoin network is having an alarming effect on global warming and climate change.
To make matters worse, the Lyric Opera’s new production “Proximity” is taking on the issue of gun violence, loneliness, and climate change. It makes one wonder if the Lyric Opera is commenting on the effects of Bitcoin mining on the environment.
The implications of this study are grave and it is clear that something must be done to reduce the energy demands of Bitcoin mining. Until then, the world will continue to suffer from the effects of climate change.
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