An Analysis of the Civil Liability for Environmental Damages Resulted from Cryptocurrency Mining

Abstract

Mining of cryptocurrencies is one of the important phenomena attracting the attention of a great number of people due to its tremendous profit; however, the said profit for a limited number of people is turning into a challenge for the planet earth. As a result, an increase in the power demand causes an increase in the greenhouse gas emission and eventually leads to two degrees of global warming. This is a library research using the inductive-deductive method. Beside reviewing the equation ratio of “environment” and “economy resulted from Mining cryptocurrency”, this research suggests some strategies for prevention of the said problems and reviews the civil liability of Mining of such currencies. It is concluded that the Mining should bear the consequences of their profitability based on the theories of “No-Damage” and “Risk” and they should try to compensate the damages. Taking into account the existing complex situation of the environment, the method of compensating the damages is in line with the reality.