Researchers from Exponential Science and University College London have analyzed the environmental impact of banning Bitcoin mining. They found that such bans could lead to an increase in carbon dioxide emissions by up to 2.5 million tons per year. Moving mining activities to regions with higher carbon emissions could undermine environmental goals in countries like Canada, Paraguay, El Salvador, and Norway.
However, in countries with carbon-intensive energy sources like Kazakhstan, China, and Malaysia, a ban could reduce emissions. The researchers suggest a more nuanced regulatory framework for Bitcoin mining, with authorities encouraging the use of renewable energy sources in high-carbon areas and providing subsidies to relocate mining activities to low-carbon regions.
