Decentralized digital currency, more commonly known as cryptocurrency, has grown exponentially in recent years, reaching a market capitalization as high as $3 trillion in 2021 and outperforming nearly every asset class in terms of returns and growth. However, this success has come with a downside—the power intensive nature of the cryptocurrency mining process, which relies on electricity generated by fossil fuels, could have a major impact on climate risk.

As cryptocurrency gains mainstream acceptance, it remains to be assessed whether it will be the digital catalyst to further destabilizing an already volatile climate situation.

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