UN report: Bitcoin mining has increased global energy consumption 34 times in 8 years

Odaily News Recently, the United Nations Conference on Trade and Development (UNCTAD) released its latest Digital Economy Report 2024 (hereinafter referred to as the Report). The report stated that although digitalization has driven global economic growth and provided unique opportunities for developing countries, its impact on the environment is also becoming increasingly serious. The report mentioned that new technologies such as blockchain, artificial intelligence, 5G and the Internet of Things have a growing demand for data transmission, processing and storage, which has also increased greenhouse gas emissions. It is estimated that in 2022, the energy consumption of global data centers will be equivalent to that of France, and global energy consumption generated by Bitcoin mining has increased by about 34 times between 2015 and 2023. This puts tremendous pressure on local power grids. For example, data centers in Singapore accounted for about 7% of the countrys electricity demand in 2020, while in Ireland, this proportion was as high as 18% in 2022. (Yicai Global)