Environmental, Economic, and Grid-Level Impacts of Mining
The post Environmental, Economic, and Grid-Level Impacts of Mining appeared on BitcoinEthereumNews.com.
The USA is the global leader in Bitcoin mining electricity expenses, spending over $10.8 billion annually, far exceeding any other country. China and Kazakhstan follow, spending $4.4 billion and $2.8 billion, respectively. Canada and Russia also stand out with significant expenditures—Canada spends nearly $1.5 billion, driven by relatively high energy costs, while Russia contributes over $1.1 billion, highlighting their substantial roles in global mining despite lower hash rates. Bitcoin mining requires significant amounts of electricity, impacting countries and states by increasing energy costs, causing blackouts, and driving higher carbon emissions. This study dives into these critical issues to reveal the hidden costs of Bitcoin mining operations worldwide. Key Findings The global annual electricity cost of mining Bitcoin is $24.7 billion. Countries mining BTC emit 167% more greenhouse gases. The U.S. tops global Bitcoin mining electricity costs at $10.5B yearly. BTC-mining states experience 9x more blackouts and 5x higher costs from electricity interruptions. BTC-mining states emit 71% more CO₂. Where Is BTC Mining Most Costly? The USA is the global leader in Bitcoin mining electricity expenses, spending over $10.8 billion annually, far exceeding any other country. China and Kazakhstan follow, spending $4.4 billion and $2.8 billion, respectively. Canada ranks fourth, spending nearly $1.5 billion annually. Russia follows closely with expenditures exceeding $1.1 billion, highlighting its prominent yet costly role in global Bitcoin mining. Within the US, Georgia leads significantly, incurring electricity costs of nearly $2.9 billion. Texas and Kentucky follow, each surpassing $1 billion. How BTC Mining Affects Blackouts Bitcoin mining significantly increases the frequency and severity of power outages. States engaging heavily in mining activities experience notably higher blackout rates compared to those that don’t. Texas, with a hashrate of 11.22%, experienced 22 blackouts, affecting around 1.75 million residents, making it the most blackout-prone and disruptive BTC mining hub. Georgia,…
