Change the Code Not the Climate.

Adriana Motta

Feb 1, 20232 min read

Climate activists and non-profits are united in their efforts to raise awareness about the environmental impact of Bitcoin's energy-intensive verification process.

Through a campaign called "Change the Code Not the Climate," these groups are urging Bitcoin to transition to alternative verification protocols that require significantly less computing power.

Bitcoin's proof-of-work process relies on computers solving complex math equations. While desktop computers were once sufficient for this task, the increasing popularity of Bitcoin has made the mining process more energy-intensive. As a result, substantial computing power is now required to mine new Bitcoin. The activists behind Change the Code Not the Climate believe that by adopting less energy-intensive verification methods, the cryptocurrency industry can help mitigate its negative environmental impact.

The energy consumption associated with Bitcoin mining raises concerns globally, as the process relies heavily on fossil fuels due to their lower cost compared to renewable sources of electricity. Rather than relying on greener energy alternatives, the activists of this campaign advocate for reducing the energy consumption of cryptocurrencies in the first place. Critics argue that high energy inputs are necessary to ensure the security of the blockchain underlying Bitcoin. However, other cryptocurrencies like Ethereum have successfully transitioned to less energy-intensive methods, thereby setting an example for Bitcoin to follow.

Mintel's 2022 Global Consumer Trend Climate Complexity highlights how consumers are increasingly conscious of the environmental consequences of their decisions and lifestyles. This awareness extends to financial choices, including the impact of cryptocurrency on the planet. As blockchain technology gains popularity, potential cryptocurrency buyers may hesitate if they believe that these digital assets have a negative environmental footprint. As brands introduce metaverse concepts and launches, consumers will likely scrutinize the real-world impacts of these digital assets and spaces. Therefore, brands must be transparent about their practices to ensure that consumers can enjoy digital offerings without guilt or fear of contributing to harm.

By focusing on reducing the energy consumption associated with Bitcoin mining, the Change the Code Not the Climate campaign aims to bring attention to the environmental impact of cryptocurrencies and encourage the industry to adopt more sustainable practices.