London Daily

Focus on the big picture.
Friday, Jun 20, 2025

China's Bitcoin mining could impact its goals to become carbon neutral

China's Bitcoin mining could impact its goals to become carbon neutral

Accounting for 80 per cent of the global cryptocurrency trade, China's overuse of supercomputers and coal-fired power plants could have a devastating impact on climate.

China's electricity-guzzling Bitcoin mines, which power nearly 80 per cent of the world's cryptocurrency trade, could undermine the country's climate goals, according to a study published on Tuesday in the scientific journal Nature.

While the terminology cunjures up images of digging up precious minerals from a hole in the ground, mines from which Bitcoins are extracted are in fact sites full of microprocessors running to perform mathematical calculations.

These computers, which are the source of Bitcoins, consume huge amounts of electricity, some of it originating in one of more than a thousand coal-fired power plants across China.

According to the Nature study, if left unchecked, China's Bitcoin mines will produce 130.50 million metric tons of carbon dioxide emissions by 2024, nearly equivalent to the total annual greenhouse gas emissions of Italy or Saudi Arabia.

As of April 2020, Chinese companies with access to cheap electricity and equipment were running 78.89 per cent of the world's bitcoin operations, according to Nature.

About 40 per cent of China's Bitcoin mines are powered by coal-fired electricity, while the rest use renewable energy, the study said.

But these coal-intensive facilities are so large that they could end up undermining Beijing's environmental commitment to peak carbon emissions by 2030 and become carbon neutral by 2060, the study warns.

Undermining efforts to reduce emissions


"The intensive exploitation of bitcoin in China can quickly become a threat that could potentially undermine the effort to reduce emissions," Wang Shouyang, a co-author of the study from the Chinese Academy of Sciences, told AFP.

He said the Chinese government should focus on upgrading the power grid to ensure a stable supply from renewable sources.

"As energy prices in China's clean energy regions are lower than those in coal-fired regions, 'miners' - who run their computer hardware to perform mathematical calculations and participate in the network, with the aim of receiving a reward in Bitcoin - should have more incentive to move to clean energy regions," he added.

This year, the Bitcoin mining industry is expected to consume 0.6 percent of the world's total electricity production, more than Norway needs annually, according to the University of Cambridge's Bitcoin Electricity Consumption Index.

The price of bitcoin has risen fivefold in the past year, reaching a record high of more than $61,000 (€70,000) in March, and is now hovering just below the $60,000 (€69,000) mark.

Given the profits that can be made, Wang believes that imposing carbon taxes is not enough to deter miners.

In 2019, China banned trading in cryptocurrencies to combat money laundering. But Bitcoin "mining" is still permitted.

Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×