Apart from consuming a lot of energy Bitcoin also generates a lot of e – waste. Mining is an environmental concern that Bitcoin has caused and which need to be took in concern rapidly before it’s too late. Science Direct new study says that , mining generate as much as 30.7 metric kilotons of e – waste every year as of May 2021.
We have been thinking Bitcoin as a Revolution to world economy but what about environmental laws. Bitcoin has become one of the world’s largest e – waste producer including smartphones which were estimated to have contributed 50 million tons of waste in 2019 approximately 10% to the total Global e-waste in the world at this time. Overall a bitcoin can produce as much as 64.4 metric kilotons of e waste and e -waste represent a growing threat to environment from toxic chemicals and heavy metals leaching in two soils to care and water pollution caused by improper recycling. The Bitcoin network has already consumed 91 terawatt-hours within the first of 2021.
According to Statista.com bitcoin’s total e-waste production is still only 0.11% of the global estimate. However, the fact that platforms like Ethereum and Cardano have been cutting energy consumption by as much as 99% could make statistics like this troublesome for the world’s most valuable cryptocurrency.