The Environmental Footprint of Bitcoin Mining Across the Globe: Call for Urgent Action

【Author】 Chamanara, Sanaz; Ghaffarizadeh, S. Arman; Madani, Kaveh

【Source】EARTHS FUTURE

【影响因子】8.852

【Abstract】Based on a multi-attribute assessment of the environmental impacts and challenges associated with global Bitcoin (BTC) mining activities around the globe, we call for urgent action by the scientific, policy, and advocacy communities. The worldwide BTC mining network consumed 173.42 TWh of electricity during the 2020-2021 period, bigger than the electricity consumption of most nations. The mining process emitted over 85.89 Mt of CO(2)eq in the same timeframe, equivalent to the emission caused by burning 84 billion pounds of coal or running 190 natural gas-fired power plants. The environmental footprint of BTC mining is not limited to greenhouse gas emissions. In 2020-2021, the global water footprint of BTC mining was about 1.65 km(3), more than the domestic water use of 300 million people in rural Sub-Saharan Africa. The land footprint of the global BTC mining network during this period was more than 1,870 square kilometers, 1.4 times the area of Los Angeles. These striking numbers highlight the heavy reliance of the BTC network on fossil fuels and natural resource-intensive energy sources, resulting in major but unmonitored and unregulated environmental footprints. To mitigate the environmental costs of BTC mining, immediate policy interventions, technological advancements, and scientific research are crucial. Proposed measures include enhanced transparency, economic and regulatory tools, developing energy-efficient alternative coins, and the adoption of greener blockchain validation protocols.

【Keywords】carbon footprint; water footprint; blockchain; environmental accounting; sustainability assessment; Bitcoin

【发表时间】2023 OCT

【收录时间】2023-11-22

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-挖矿分析