Home Bitcoin NewsBitcoin Mining Bitcoin mining consumes at least 0.2% of global electricity – Axios

Bitcoin mining consumes at least 0.2% of global electricity – Axios

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Bitcoin mining takes a 0.2% share of global electricity consumption, according to a new paper in the journal Joule described in this MIT Technology Review piece.

Why it matters: That’s a lot of power, though James Temple’s MIT piece notes other research that provides an even higher estimate.

Details: Per Temple’s story, the paper finds that Bitcoin mining produces estimated annual emissions of 22–23 megatons of CO2, “slotting the operations between the nations of Jordan and Sri Lanka in terms of greenhouse-gas pollution.”

  • “Including other cryptocurrencies in the calculation more than doubles estimates of how much energy is being used,” he writes.

Go deeper: Why Bitcoin’s fall gives the planet a breather

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