The cryptocurrency industry continues to grow rapidly in recent years, but this growth brings with it environmental concerns. In the report evaluating the UN’s 2020-2021 period, the activities of 76 Bitcoin mining countries worldwide were examined.

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According to this report, with a power consumption of 173.42 terawatt-hours, Bitcoin mining emerged as a significant energy source during this period.

Especially in 2021, with a 400% increase in the price of Bitcoin, there was also approximately a 140% increase in the electricity energy that Bitcoin has spent.

During this period, Bitcoin reached its all-time high with $69,000. However, fossil energy sources fueled this growth, and these sources provided 67% of the electricity.

This report presented by the UN indicated that the industry also brought environmental responsibilities with this high energy consumption. Hydroelectric energy played a significant role, providing more than 16% of the global Bitcoin mining network.

After this report, the crypto community questioned its accuracy on carbon emissions, recalling a report that the UN had previously published in 2018.

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