Another Study Shows BTC’s Energy Footprint Less Than Expected
Bitcoin’s energy footprint less than expected finds new study
“Studies on the environmental impact of Bitcoin have been polarizing – suggesting that mining is either a catastrophic waste of energy or of no concern at all. The truth is likely somewhere in the middle.
The truth, according to a new study from researchers at Aalborg University in Denmark, is somewhere in the middle. By conducting a cradle-to-grave analysis of Bitcoin mining, Susanne Köhler and Massimo Pizzol claim to have arrived at a clearer picture of the total environmental impact of Bitcoin mining.
Considering all stages of the process — from the extraction of raw materials and the manufacture of mining equipment to the solving of the complex mathematical puzzles that proof-of-work demands — Köhler and Pizzol found the Bitcoin network consumed 31.3 Terawatt-hours of electricity, and generated 17.3 megatons of carbon dioxide equivalents in 2018.
These figures are lower than previous estimates that have been routinely used by environmentalists to criticize the network for consuming more electricity than many small countries.”