Cryptocurrencies have become a new force in the digital world, causing us to think about their effect on the environment. Their growth, especially Bitcoin’s, has led to a lot of talk about how much energy they use. Bitcoin mining uses up 143.09 terawatt-hours (TWh) of electricity every year. That’s more than the whole country of…
Cryptocurrencies have soared in popularity, sparking debates about their environmental impact. By looking into how sustainable different crypto networks are, especially those using proof-of-work (PoW), we learn about their high energy needs. For example, Bitcoin, the top choice for miners, uses about 151 terawatt-hours (TWh) of electricity every year. This amount is nearly 0.59% of…
The rising popularity of cryptocurrencies like Bitcoin has sparked major debates on their environmental impact. The excitement they generate is likened to a modern gold rush. But this comes with hidden, serious ecological costs. Research by the United Nations reveals striking data. It showed that between 2020 and 2021, 76 countries involved in Bitcoin mining…