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Huge investments have been made in the cryptocurrency market due to the surge in value over the past ten years. Digital currencies have widely gained the trust of the world's top investors, including major enterprises, tech millionaires, criminals, money launderers, and sanction breakers.

In addition to becoming a challenge to conventional currencies, the dynamic market for cryptocurrencies has an often less talked about the dark side. According to new research by the United Nations University Institute for Water, Environment and Health (UNU-INWEH), mining cryptocurrency might significantly negatively affect the climate, water, and land.

The popularity of Bitcoin prompted UN researchers to study its mining operations in 76 nations during the 2020–2021 period, intended to assess its impact on a global scale. "The results are shocking. In addition to a substantial carbon footprint, global Bitcoin mining activities have significant water and land footprints," said a statement.