Illuminated mining rigs operate inside racks at the CryptoUniverse cryptocurrency mining farm in Nadvoitsy, Russia, on Thursday, March 18, 2021.
— Bitcoin mining is consuming 66 times more electricity than it did back in late 2015, and the carbon emissions associated with it will likely face increasing scrutiny, according to a Citigroup Inc.
Carbon emissions related to cryptocurrencies have become a concern for climate watchers amid a surge in Bitcoin mining in China, where the electricity for such operations is partly supplied by coal-fired plants.
“Mining and use of these ‘coins’ is undoubtedly energy-intensive and could face greater regulatory scrutiny as adoption expands, especially if the U.S.