Essentially, it seems like being able to mine Bitcoins without causing any environmental damage is impossible. Mining Bitcoins from home requires colossal quantities of energy, on a 24/7 basis. Some have even said that bitcoin mining could consume as much energy as Denmark by 2020. However, with the value of Bitcoin rising on almost a daily basis, it is becoming less and less affordable to ordinary people- and this has resulted in more and more people choosing to try and mine Bitcoins from home instead, as a cheaper alternative. We can’t stop people from mining their own Bitcoins- but how can we mine for Bitcoins without damaging the environment?
Well, we can’t stop damaging the environment altogether, but we can massively reduce the impact mining has in one simple way- do it less.
Now, this might be frustrating for Bitcoin miners to hear, because it does take an incredibly long time to earn even 0.01 BTC let alone one whole Bitcoin. It can take weeks, months, sometimes even a year if not more to make one whole Bitcoin with mining software left on 24 hours a day, seven days a week. So to be told to mine less is definitely not what anyone who is into mining their own Bitcoins is not going to be received well.
However, turning the machines off for even just one day a week would have a drastic impact on how much energy is being used- and in turn, would help contribute to less environmental damage.
A less popular alternative that costs a little bit more is to use alternative sources of energy in your home, such as getting solar panels installed. If you use the solar power, it will have a far less damaging effect on the environment and would still allow you to keep on mining for Bitcoins in your own home.
Truthfully there is absolutely no way to mine Bitcoins without damaging the environment at all. However, there are ways you can massively reduce the environmental damage that you’re causing, and these alternative options are worth looking into.