The environmental impact risks due to Bitcoin mining have been largely touted, but a recent report indicates that the actual damage of bitcoin mining might well be less.
Data centers, gold mining and silver production all consume far more energy than Bitcoin mines.
The report states that the annual energy consumption of Bitcoin is minimal. 8.27 terawatt hours per year, more than Ireland and other small nations. Nevertheless, this figure is actually only one-eighth of the annual consumption of data centers in the United States, and world production of fiat currencies is 11 terawatt hours per year.
Gold mining burns 132 terawatt hours per year. What's more, these numbers do not even include the huge amount spent on safes, banks, security systems and more to ensure the safety of physical money and metals precious.
Bitcoin mining has been widely touted, particularly by those who view it as a non-legitimate currency, but it seems that these accusations are more fearful, Uncertainty and doubt (FUD), rather than actual facts.
Ignore the real costs of other types of value production, all of which consume resources. In fact, Bitcoin consumes less energy than its non-digital counterparts