Bill Gates sees Bitcoin as a problem for the global climate.

One Bitcoin transaction uses more energy than any other method, which weighs on the global climate. Microsoft co-founder Bill Gates expressed this view in an interview with New York Times.

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The publication noted that the annual carbon footprint from mining the first cryptocurrency and validating transactions on its network is equivalent to the emissions of all of New Zealand or Argentina.

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A data scientist at the Dutch central bank, Alex de Vries, calculated that each Bitcoin transaction leads to 300 kg of CO2 — the same as 750,000 Visa transactions, Forbes noted. The difference lies in the nature of the distributed ledger, which provides transaction transparency and censorship resistance.

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Despite efforts to improve environmental protection, Gates sought to avoid being categorical in his remarks.

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\”If this is green energy, and it does not displace other uses — Bitcoin mining may be acceptable\”, — the billionaire said.

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According to a study by Cambridge University\’s business school, 39% of all Bitcoin mining was conducted using renewable energy sources (RES). The most popular electricity source for mining farms is Hydroelectric power plants, according to the report.

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Earlier, the Norwegian holding company Aker announced plans to deploy Bitcoin mining using green energy.

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In December 2020, the payments company Square, founded by Jack Dorsey, announced plans to reduce its carbon emissions from its operations to zero by 2030. The firm will also allocate $10 million to support Bitcoin mining powered by renewables.

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