Azerbaijan news

Bitcoin mining is 3 times more expensive than gold mining

Bankless Times According to the website $ 1 worth bitcoinin the amount of energy used for mining 17 MJ (meqacoul) contane. However, the amount of energy used to extract a precious metal worth $ 1 5 MJis. Bitcoin and other cryptocurrencies so they are organized that, an increase in the number of users in their networks leads to an increase in the price of tokens. As a result, cryptocurrency mining requires more energy. This in turn CO2 gasincreases the secretion of In the last 2 years, there has been an increase in the use of gold with bitcoin. This is one of the factors that have a negative impact on the environment.

Despite the fact that Bitcoin mining uses a lot of energy to extract gold, bitcoin lags behind gold. That is, more energy is used for its mining. So. that, in addition to bitcoin itself, the occurrence of network transactions in which its circulation takes place and needs electricity to support its functionality. Those involved in Bitcoin mining and After the sudden increase in the number of its users, the carbon footprint of this expensive cryptocurrency is now replaced by the carbon footprint of gold. 15 times is great. Experts said that, Currently CO2 as a result of cryptocurrency mining gassecretion of 191 tons amount of CO2 as a result of the extraction of gold worth 1 bitcoin gaswhile the secretion of 13 tons volume.

Azerbaijan news

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