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World Bitcoins mines contradict China's zero carbon objectives

20:45  08 april  2021
20:45  08 april  2021 Source:   rfi.fr

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La Chine abrite plus de 75% des mines de bitcoins dans le monde et ces dernières sont boulimiques en électricité. © Reuters - Dado RUVIC China houses more than 75% of Bitcoins mines around the world and they are bulimic electricity.

digital pollutes, and if nothing is done the digital currency could even derail Beijing's zero carbon goals. It is in any case what a study of the Chinese Academy of Sciences published by the Journal Nature. China houses more than 75% of Bitcoins mines around the world and they are bulimic electricity.

with our permanent special envoy in China, Stéphane Lagarde

more energivorous still that datas center, the Chinese Bitcoins mines that feed 80% of world cryptomonnaires should consume 297 terawatt hours in 2024; It is more than what has been used by a country like Italy in 2016, according to this study of the Chinese Academy of Sciences, published in partnership with the universities of Surrey, Tsinghua and Cornell. The results of the researchers fall badly because they go against the announcement of the Chinese president last year. Beijing has given objectives to achieve a peak of carbon dioxide emissions by 2030 and carbon neutrality by 2060.

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40% of the Bitcoin product with charcoal

the cryptomonnaie extraction is very energy greedy. Minors use more and more powerful computers capable of achieving complex equations authorizing bitcoin transactions. Hence their installation in Chinese provinces and regions where electricity is cheaper: the Yunnan south, Sichuan and Xinjiang in the west, but also and especially the North. 8% of these mines are in internal Mongolia, more than throughout the United States (7.2%). Knowing that 40% of them still rotate coal.

"Carbon emissions from this emerging industry have a potentially negative effect on China's climate neutrality objectives," said Jiang Shangrong, the primary author of the study cited by the China Sciences Daily "the intensive operations of The Blockchain in China can quickly become a threat, continues Wang Shouyang. And this could potentially undermine the emission reduction effort, " adds the co-author of the study and also a member of the Chinese Academy of Science.

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Virtual Yuan

Inner Mongolia understood the message. This Chinese autonomous region still very coal-dependent has not limited its energy consumption in 2019. Central power wrath, now Hohhot intends to prohibit the operation of the Bitcoin by the end of April. Minors could attempt to escape the regulation by moving towards provinces, particularly in the southern China rich in hydropower.

Bitcoin production could also enter contradiction with the digital yuan. If the Chinese authorities have supported the development of Blockchain technology that secures bitcoin transactions, they have so far limited the trade in digital currencies to prevent bleaching. The People's Bank of China's project preparing the virtual yuan area could go further, according to Bloomberg , since it includes a provision prohibiting individuals and entities from making and selling digital currency.

to read also: Bitcoin: a currency of the future?

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