No.
Bitcoin mining does use a lot of energy which makes it the most secure computer network in the history of the world.
However, claims that Bitcoin will destroy the world by causing the climate to warm are not true. In fact, Bitcoin mining takes unused and stranded natural gas, coal slurry, geothermal energy and hydro energy that would otherwise be wasted.
As of 2022, Exxon and other oil producers were using dirty methane that traditionally had been released directly into the air, causing pollution, to power Bitcoin mining. This actually cleans the environment! Further, Bitcoin is the most renewable energy intensive industry on the planet today, using between 30% and 50% renewables.
The energy cost to power and secure Bitcoin, the most sound and free money in the history of the world, is relatively small. It uses much less energy than it takes to mine gold annually, to run the fiat banking system, or to operate and maintain the massive USA military presence around the world that coerces other countries to use the US Dollar for international trade.
Why is it necessary for Bitcoin to use so much energy?
Nick Szabo answers this question in Money, Blockchains, and Social Scalability, by pointing out that Bitcoin’s high resource consumption buys something even more valuable: social scalability. Bitcoin’s costly design gives stronger resistance to forgery, inflation, and theft. This is due to the difficulty of production, and also to the easy-to-verify dynamic of Proof of Work schemes.
Under current government fiat money, society suffers from the perpetual, hidden costs of inflation, which are never questioned. Fiat money allows governments dramatically cheaper debt than in a sound money system under gold or Bitcoin. This easier debt financing in turn enables many extremely costly and destructive programs, such as the warfare (Guns) and welfare (Butter) state. These government programs, in a sound money system, would otherwise require increased taxes, which is much more difficult for a politician to campaign for, relative to the hidden costs of inflation.
Overall, Bitcoin’s energy use is a tiny fraction of world energy usage:
