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New Academic Paper: Bitcoin’s Growing Energy Problem

Digiconomist May 16, 2018 Sustainability

It has been several months of little new content on the Digiconomist blog, but a lot has been going on in the background.

Bitcoin Sustainability Report April 2018

Digiconomist May 1, 2018 Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

Bitcoin Sustainability Report March 2018

Digiconomist April 1, 2018 Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

Ask me Anything this Weekend

Digiconomist March 2, 2018 Announcements

On Saturday March 3, 2018, Digiconomist will be hosting an Ask my Anything on AMAfeed.com.

Bitcoin Sustainability Report February 2018

Digiconomist March 1, 2018 Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

Digiconomist

@DigiEconomist

The latest #Ethereum Energy Consumption Index is 7.872 TWh per Year/0.73 Mil US households (-0.06%) ethereumenergyconsumption.com 25.1 KWh per unique transaction (powers 1 US household for 0.8 days) #MakeEthereumSustainable

2:02 pm · May 28, 2020

Digiconomist

@DigiEconomist

#Bitcoin #EWaste Generation is at 8.157 kilotonnes per year (comparable to a country like Luxembourg) bitcoinelectronicwaste.com A footprint of 79.3 grams per unique transaction (equal to the weight of 1.2 'C'-size batteries or 1.7 golf balls) #MakeBitcoinSustainable

1:33 pm · May 27, 2020

Digiconomist

@DigiEconomist

#Bitcoin's TWh usage results in a #CarbonFootprint of 26.98 MtCO2 (comparable to a country like Mongolia) bitcoinenergyconsumption.com The #carbon #footprint per unique transaction is 259.24 kgCO2 (equivalent to 648,109 VISA transactions) #MakeBitcoinSustainable

1:05 pm · May 26, 2020

Digiconomist

@DigiEconomist

The latest #Bitcoin Energy Consumption Index is 56.649 TWh per year (comparable to a country like Bangladesh) bitcoinenergyconsumption.com The #energy #footprint per unique transaction is 541.3 kWh (enough to power 1 U.S. household for 18.3 days) #MakeBitcoinSustainable

1:05 pm · May 26, 2020

Digiconomist

@DigiEconomist

Fun chart; though hard to give any meaning to. Hashrate increases pretty much all the time and has several key drivers. Cost of mining is one of them, but so are revenues (#Bitcoin price and size of rewards) and the state of the technology (available machine efficiency). twitter.com/leorzhang/stat…

1:02 pm · May 26, 2020

Digiconomist

@DigiEconomist

@C_Bendiksen @CoinSharesCo 3. Likewise, completely ignoring leading work by others like Christian Stoll doi.org/10.1016/j.joul… who covered the exact same thing and have received widespread media coverage (so impossible to miss), but are still not included as a source even in the most recent mining report.

11:51 am · May 23, 2020

Digiconomist

@DigiEconomist

@C_Bendiksen @CoinSharesCo 2. Completely ignoring the reality of the energy markets in China and the needs of Bitcoin miners and any research that covers this in detail. I personally destroyed those claims that defied all logic more than a year ago: twitter.com/DigiEconomist/…

11:51 am · May 23, 2020

Digiconomist

@DigiEconomist

@C_Bendiksen @CoinSharesCo The same report adds: "the claims of some proponents suggesting that cryptoasset mining will drive the 'green revolution' may be a bit far-fetched", but still (and without discussing) Coinshares states "the industry ... could act as a driver of new renewables developments"

11:51 am · May 23, 2020

Digiconomist

@DigiEconomist

@C_Bendiksen @CoinSharesCo Sure, if those mistakes include: 1. Ignoring the content of cited sources in the mining report e.g. the "2nd Global Cryptoasset Benchmarking Study" which clearly states: "Identified facilities draw on average [only!] 28% of their energy requirements from renewables"

11:51 am · May 23, 2020

The Block

@TheBlock__

Local Chinese government seeks to 'ban' crypto mining activities, sources say it doesn't mean much theblockcrypto.com/linked/661…

9:14 am · May 22, 2020 ·

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