A new Forbes Advisor survey finds that many Americans familiar with crypto do not understand its negative environmental consequences. Bitcoin consumes electricity at an annualized rate of 127 terawatt-hours (TWh) That exceeds the entire annual electricity consumption of
Highlights
- A new Forbes Advisor survey finds that many Americans don’t understand Bitcoin’s environmental impact.
- Bitcoin consumes a huge amount of electricity, making it a major source of carbon emissions.
- Americans might rethink their Bitcoin investments if they fully understood its massive carbon footprint.
- Bitcoin mining is estimated to produce 40 billion tons of carbon dioxide, and the U.S.
- accounts for more than 37% of the world’s total Bitcoin mining capacity.
- Americans are serious about their ESG priorities regarding stocks, including 68% of respondents who own some form of investment assets say they would avoid stocks because of their environmental impact, according to the survey.
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