- The Carbon Footprint of Bitcoin is 22.0 to 22.9 MtCO2 annually.
- the price of carbon credits from the EU is 60 euros or 70 dollars
This means that Bitcoin can offset it's carbon fingerprint by buying 1.6 billion dollars worth of carbon credits (600 Million dollars if we substrated the renewables), this constitutes 0.001% of the total bitcoin Market cap, and about 7% of bitcoin mining revenue.
Mining ASICs recycling: – Bitcoin e waste is 30.7 metric kilotons annually.
- The cost to offset environmental impact of e waste is 1- 9 dollars per kg or 9 million dollars per kilotons.
This means tha bitcoin mining ASICs could be recycled for 0.276 billion dollars, this constitutes 0.0003% of the total bitcoin Market cap, and about 2% of bitcoin mining revenue.
I am not arguing the we should buy carbon credits or force recycling old ASICs, but I think we should remember the I don't cost that much to do so and to kill the environmental FUD once and for ever.