Bitcoin mining poses no danger to the environment, Americans say.
A survey conducted by market research company OnePoll for the global Forbes Advisor platform, owned by the business and technology media company Forbes, revealed that 84% of Americans do not consider Bitcoin a potential threat to the environment nor for the environmental strategies or objectives set by the government for the conservation of the planet.
The survey was applied to a population sample of 2.000 US citizens who were familiar with Bitcoin and cryptocurrencies.
The majority of citizens surveyed they manifested that Bitcoin has no impact on the environment or, alternatively, that this impact could be very slight. Also, the majority of American citizens who participated in the survey conducted by Forbes Advisor indicated that the market-leading cryptocurrency does not contribute to climate change.
The survey results also reveal that nearly A quarter of the population surveyed perceives Bitcoin as a positive element for our ecosystem. Only 6% of respondents said that Bitcoin has a negative impact.
Bitcoin and the environmental impact
Bitcoin is the most powerful cryptocurrency and blockchain network in the world. For 14 years, this blockchain has served as a digital and alternative financial system for a large number of people who can carry out financial transactions globally, in a fast, decentralized and accessible way, without the need for intermediaries.
However, beyond its benefits, in recent years there has been a great debate about its environmental impact, due to the energy required by the blockchain network to remain operational.
The Forbes Advisor report, although focused on demonstrating that the operation of Bitcoin does leave a significant carbon footprint on the environment, highlights that Most Americans agree that Bitcoin is not a threat for our planet.
On the other hand, the report points out that a large part of Americans are concerned about investing their money in assets that respect ESG criteria, so Forbes Advisor researchers believe that if investors understood the carbon footprint that Bitcoin could generate, they would probably consider looking for other investment alternatives.
However, it is also worth noting that a large number of times, publications and media ignore the efforts that Bitcoin miners are making to continuously improve its energy consumption and be more efficient.
23% of the energy consumed by Bitcoin is hydroelectric
In this regard, ClimateTech investor and ESG analyst Daniel Batten shared the results of a report by the research platform Batcoinz, which states that The main source of energy used by Bitcoin miners today is hydroelectric.
According to the platform, the use of fossil fuel-based energy sources has been declining at a rate of 6,2% annually since January 2020.
Several American companies engaged in Bitcoin mining, such as Hut8, Terawulf and Blockfusion, are operating on hydroelectric power. Other companies, such as Marathon Patent Group, are using primarily wind energy to provide electricity for their mining equipment.
Crypto mining companies that belong to the ERCOT network in Texas (United States), such as AntPool and Riot Blockchain, among others, also support their operations on the blockchain network through energy provided by wind farms.
Batten highlighted that thanks to the integration of clean energy sources into the Bitcoin network, it has become the only major global industry whose primary energy source is not a fossil fuel.
In the state of Texas, the Bitcoin mining company Decimal Digital Currency inaugurated last month its new facilities in Granbury, from which it is using its surplus energy to mine bitcoins while providing stability to the state's electrical grid on demand from the Energy Reliability Council of Texas (ERCOT).
Continue reading: Pennsylvania launches its first nuclear-powered Bitcoin mining farm
