The Carbon Footprint of Bitcoin

【Author】 Stoll, Christian; Klaassen, Lena; Gallersdoerfer, Ulrich

【Source】JOULE

【影响因子】46.048

【Abstract】Participation in the Bitcoin blockchain validation process requires specialized hardware and vast amounts of electricity, which translates into a significant carbon footprint. Here, we demonstrate a methodology for estimating the power consumption associated with Bitcoin's blockchain based on IPO filings of major hardware manufacturers, insights on mining facility operations, and mining pool compositions. We then translate our power consumption estimate into carbon emissions, using the localization of IP addresses. We determine the annual electricity consumption of Bitcoin, as of November 2018, to be 45.8 TWh and estimate that annual carbon emissions range from 22.0 to 22.9 MtCO(2). This means that the emissions produced by Bitcoin sit between the levels produced by the nations of Jordan and Sri Lanka, which is comparable to the level of Kansas City. With this article, we aim to gauge the external costs of Bitcoin and inform the broader debate on the costs and benefits of cryptocurrencies.

【Keywords】

【发表时间】2019 17-Jul

【收录时间】2022-01-02

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币