Tax solutions to environmental problems caused by cryptocurrency mining

Bitcoin and other cryptocurrencies have gained more importance in recent years through the development of technology and the use of cryptocurrencies is more preferred. Cryptocurrencies have become a more attractive investment and payment tool worldwide due to their high rate of return, low transaction costs and absence of a third party, not being tied to banks or a central authority. In addition, easier transactions via blockchain technology and all transactions can be done on a single computer without going anywhere also increases the preferability of cryptocurrencies. Nonetheless, as a result of the increase in the use of cryptocurrencies and the increase in the mining of cryptocurrencies to obtain crypto money, the energy consumed is increasing. In this study, blockchain technology, historical processes of Bitcoin with other cryptocurrencies and reasons for their emergence are examined. Then, it is aimed to reveal the effects of blockchain technology and crypto money mining on the environment. The excess energy consumption that occurs with these environmental effects is also covered. In addition, the effects of cryptocurrency mining on countries are examined based on the examples of a few countries. There are tax solution recommendations that will eliminate the negative effects of excessive energy consumption and the environment due to the use of crypto monetary mining and blockchain technology. It is aimed to prevent the excessive energy consumption that is the result of the activities by uncovering the effects of these recommendations presented.