🌍 Bitcoin Mining Bans May Boost Global Carbon Emissions 🌍

🌐 Well-Intentioned Policies, Unintended Consequences

According to Cointelegraph, eco-friendly governments considering bans on Bitcoin mining might actually harm the global economy. Research from Exponential Science suggests that banning mining in low-emission countries could cause miners to relocate to regions with higher carbon outputs, resulting in a net increase in global emissions—a phenomenon called "aggravated carbon leakage."

🔋 Not All Bitcoin Mining Is Equal

Researchers highlight that Bitcoin mining's environmental impact varies greatly depending on the energy sources used. For instance, a ban on Bitcoin mining in Canada, where nuclear and hydro-electric power are prevalent, could backfire. This shift could increase global network emissions by an estimated 5.6%, or around 2.5 million tonnes of CO2 each year.

🚫 Policy Updates from Canada and Russia

In April, the Canadian province of Manitoba extended a pause on new crypto mining requests with government-owned Manitoba Hydro, including any pending infrastructure projects.

On November 1, Russian President Vladimir Putin signed a regulatory framework for crypto mining. While the new laws clarify legal definitions in the sector, experts warn that Russia has not fully legalized crypto mining, as these measures add new controls and restrictions.

#CryptoAMA #GrayscaleXRPTrust #16thBTCWhitePaperAnniv #CPI_BTC_Watch #CryptoMarketMoves