A new research paper by Exponential Science suggests that banning Bitcoin mining for environmental reasons could inadvertently increase global carbon emissions. Mining operations, often criticized for their high energy consumption, might relocate to regions with fossil fuel-powered grids if bans are implemented in countries like the U.S. and Europe. The impact varies by jurisdiction; for instance, a ban in Kazakhstan could reduce emissions by 7.63%, while a ban in Paraguay could increase emissions by 4.32%. The research emphasizes the importance of science-informed regulations, as regulatory actions can lead to unintended consequences, impacting the network's overall carbon footprint. Current trends also suggest that favorable conditions in places like Sweden and Iceland might attract more miners, potentially shifting the emissions profile further. The findings highlight the need for thoughtful policy-making regarding cryptocurrencies and their environmental impact.

Source 🔗