Elon Musk, a well-known crypto enthusiast, argued that Bitcoin mining was now moving to renewable energy, increasing its green share. 

But as recent findings would have it, this is not the case. The Bitcoin mining carbon footprint has been steadily rising, and China's current ban on crypto use only fueled it further. Research shows that carbon emissions have increased by 17% following the crackdown. 

China was a significant Bitcoin hub, accounting for more than 75% of Bitcoin's hash rate and 44% of crypto miners. That was until June 2021, when the country banned Bitcoin mining. The ban resulted in a mass exodus of miners from China to the US, Russia, and Kazakhstan, where the negative impact is higher. 

Now, this may seem absurd, especially because China relies heavily on coal. But, the country also uses renewable hydropower to mine cryptos. 

Hydropower and other renewable energy hold the solution

Although things seem bleak right now, there just might be a way out. Going by Musk's stance, shifting to renewable energy might solve the stalemate between adoption and climate impact. 

And it seems that things are already set in motion. 

A Costa Rican hydropower plant recently converted into a green Bitcoin mining plant. Sure, the adverse effects on the climate may not start reversing just now, but it is a step in the right direction. 

Read the full story here: Global Carbon Footprint of Bitcoin Mining up 17% to Stand at 114 Mt