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24
May, 2021

Ark Invest: Bitcoin Doesn’t Press the Environment

The confusion in the crypto market started after Elon Musk announced that Tesla would stop to accept Bitcoin as a form of payment for its products. The main reason behind this decision, according to Musk, is the environmental impact from Bitcoin mining through its CO2 emissions.

 

 Contrasting this view, Ark Invest published a research that shows that Bitcoin mining, not only is dangerous for the environment, but it could become a sustainability lever.

 

The research shows that renewables sources of energy, even if they could serve a 40 % of a mining hub, can satisfy the 99 % of connected businesses in the mining sector, minimizing mining’s impact in the environment.

 

You can read and this paper, published from Ark Invest along with Square.