A Third of Americans Believe Bitcoin Mining Has No Impact on the Environment

A Third of Americans Believe Bitcoin Mining Has No Impact on the Environment

Research from the investing experts has revealed that 84 per cent of Americans do not believe that Bitcoin investments are a threat to the environment. Such findings are startling, in comparison to the great impact that it truly has on energy consumption and carbon emissions. Those unaware of the significant damage bitcoin mining has on the environment consist of one third (32 per cent) believing there to be no impact and one quarter (26 per cent) understanding there to be a slight threat, but not significant enough to cause an impact. Meanwhile, over one quarter (26 per cent) of people believe quite the opposite, claiming Bitcoin to be good for the environment. However, the reality according to Forbes Advisory, is scarily different. An analysis from the company lays bare that US Bitcoin miners generated 0.85 pounds of carbon dioxide per kilowatt-hour of energy used in 2020. Bitcoin mining is estimated to produce 40 billion tons of carbon dioxide, and the US accounts for more than 37 per cent of the world’s total Bitcoin mining capacity. Joe Sweeney , managing partner at Cornerstone Wealth , says Bitcoin is a problem for any investor concerned about ESG principles . “With so much