Are Cryptocurrencies Bad for the Environment? Evidence and Debate
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…