Researchers raise alarm over disturbing fallout tied to Bitcoin's rise: 'It was already a dirty business'
It's no secret that Bitcoin has enjoyed a meteoric rise in popularity over the years. While the Bitcoin price index can often be volatile, its value has also seen dramatic increases.
However, Bitcoin mining can have major environmental impacts that may prohibit countries like the United States from meeting air quality standards.
In a recent study published in the journal Nature, a team of researchers found that the electricity consumption of Bitcoin mining in the U.S. is causing measurable challenges to air quality.
The researchers identified the 34 largest Bitcoin mines in the country in 2022. They then located the corresponding electrical plants that powered each mine, "and pinpointed communities most harmed by Bitcoin mine-attributable air pollution."
Ultimately, their findings indicated that "from mid-2022 to mid-2023, the 34 mines consumed 32.3 terawatt-hours of electricity," or the equivalent of "the annual demand of three to six million homes." Of that electricity, 85% was generated by fossil fuels, a significant source of particulate matter — or PM — pollution in the air.
As noted by the researchers, the air pollution resulting from Bitcoin mining could pose a public health risk.
"We estimated that 1.9 million Americans were exposed to ≥0.1 μg/m3 of additional PM2.5 pollution from Bitcoin mines, often hundreds of miles away from the communities they affected," the co-authors wrote.
Exposure to PM2.5 — particulate matter with a diameter of 2.5 micrometers or less — has been linked with cardiovascular and respiratory conditions as well as "premature death in people with heart or lung disease," per the U.S. Environmental Protection Agency. Research is also being conducted to study possible connections between PM2.5 exposure and other health concerns, such as newborn health and skin conditions.
While the potential health consequences of an exposure increase of ≥0.1 μg/m3 of PM2.5 as noted in the study are not unpacked by the researchers in this paper, we do know that poor air quality can cause adverse effects, especially for vulnerable populations. Pregnant people, children, older people, and marginalized communities are the most likely to be affected by this type of pollution.
And while it cites a considerably higher increase, for comparison's sake, the Natural Resources Defense Council has noted that "an increase of just 10 µg/m3 of PM2.5 in the air increases the risk of someone dying from heart disease by 10 percent."
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There is also the question of the potential impact of particulate matter on animals and plant life.
Increased air pollution from Bitcoin mines may also hinder progress in reaching air quality milestones. The study noted that "additional Bitcoin mine-attributable PM2.5 emissions could slow efforts to attain the new National Ambient Air Quality Standard."
A number of countries have introduced regulations to minimize or ban cryptocurrency mining, some at least in part to conserve energy.
In 2021, China became the most high-profile example of an outright ban, which the country reportedly enacted in part to curtail energy use. However, the move ended up shifting crypto mining to other countries, including those with fewer renewable energy resources.
In a 2022 interview with the New York Times, researcher Alex de Vries noted the impact of the mining ban. "There was a lot of optimism that China banning Bitcoin mining would make mining more green," de Vries said. "But the fact is, it was already a dirty business and it just got worse."
The public could pressure policymakers to require crypto mining to be powered entirely or mostly by renewable energy. However, it would be important to put guardrails in place to ensure crypto couldn't overtake renewables and leave less for people to meet basic energy needs with clean sources.
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