IMF: Mining Will Consume 2% of Global Electricity by 2027

The International Monetary Fund predicts that by 2027, cryptocurrency mining will consume 2% of global electricity. Additionally, mining may account for 1% of global CO2 emissions.

These forecasts raise concerns within the global community. The increasing energy consumption of mining highlights the need for more sustainable extraction methods.

The IMF urges governments and the industry to find solutions to reduce the environmental impact of mining, including transitioning to renewable energy sources and improving equipment energy efficiency.