Crypto’s Carbon Footprint Could Hinder Adoption: Deutsche Bank

Crypto’s Carbon Footprint Could Hinder Adoption: Deutsche Bank
In the past three years bitcoin’s market cap has grown to more than $1 trillion from $70 billion and its “annual global energy consumption increased nearly four times, to over 200 terawatt hours (TWh),” according to a research report by Deutsche Bank on the crypto industry’s sustainability issues.While bitcoin’s environmental impact was hardly mentioned at the recent COP26 climate conference, it remains a key issue for crypto users, the bank said.“Mining just one bitcoin consumes a larger carbon footprint than nearly two billion Visa transactions” and just one bitcoin transaction could power the average U.S. household for 61 days, analyst…