Reducing Bitcoin’s Carbon Footprint

Bitcoin’s surge in popularity has sent the network’s
electricity consumption soaring. And while using the electricity is
not necessarily a problem when building the largest immutable
ledger that has ever existed, it is important to know where that
power comes from and how we can make it more sustainable. It is
estimated that bitcoin mining uses up to 22.5 TWh of energy
annually, or 13,239,916 barrels of oil equivalent every year. Like
other forms of mining, however profitable it may be, it has severe
implications for the environment,…

Bitcoin’s surge in popularity has sent the network’s
electricity consumption soaring. And while using the electricity is
not necessarily a problem when building the largest immutable
ledger that has ever existed, it is important to know where that
power comes from and how we can make it more sustainable. It is
estimated that bitcoin mining uses up to 22.5 TWh of energy
annually, or 13,239,916 barrels of oil equivalent every year. Like
other forms of mining, however profitable it may be, it has severe
implications for the environment,…