For many years, the Bitcoin community has argued that the network is running on a significant share of renewable energy sources.

In recent weeks several organizations have started experimenting with non-fungible tokens (NFTs) on top of the Polygon network.

Next to the Bitcoin and Ethereum Energy Consumption Index a new Dogecoin Energy Consumption Index has been added to Digiconomist.

“Should bitcoin’s mass adoption continue, an escalating climate crisis is inevitable, disproportionately exacerbating social and environmental challenges for communities already experiencing multiple dimensions of deprivation.“

Almost five years after Digiconomist first started providing insights into the energy consumption of the Bitcoin network, a new study in collaboration with Christian Stoll from MIT now provides new insights in another major component of Bitcoin’s wasteful design.

The record-breaking surge in Bitcoin price at the start of 2021 may result in the network consuming as much energy as all data centers globally, with an associated carbon footprint matching London’s footprint size.