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China’s bitcoin mining is threatening its climate change targets, study says

President Chi jinping said last year

“the country is targeting carbon dioxide emissions by 2030 and carbon neutrality by 2060 but Bitcoins threaten to delay those plans without interventions and feasible policies. The intensive blockchain bitcoin operation in China can quickly grow as a threat that potentially undermines the emission reduction effort taking place in the country.”

The authors noted that China’s bitcoin energy usage by 2024 will surpass the total energy consumption of Italy or Saudi Arabia.

Source- CNBC

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