Report: Bitcoin network produces as much CO2 as Las Vegas

15 Jun, 2019
by David Borman
Report: Bitcoin network produces as much CO2 as Las Vegas

Recently Be In Crypto reported that a new MIT study has come out that found that the amount of CO2 emissions generated by the Bitcoin network were roughly comparable to a major western city, like Las Vegas.

The study was published in the journal Joule and found that in 2018 the Bitcoin network produced 22-22.9M tons of carbon dioxide. This would make it comparable to a major western city, such as a Las Vegas. It has also been compared to the island of Sri Lanka.

According to the report, 68% of Bitcoin mining power comes from Asia, with another 17% from Europe and 15% from North America. The study also found that when you break it down by transaction, things sound more bleak. Currently, Bitcoin apparently produces 271 kilograms of CO2 for each transaction. If true, this would put it hundreds of times ahead of credit card payments.

New methods are being explored that are not as energy demanding as the current Bitcoin mining system demands. Proof of Stake, which Ethereum hopes to soon implement, is many times more efficient than Proof of Work which Bitcoin currently employs. Perhaps the expansion of systems like this will make the future of crypto more green.

In the meantime, stick with Chepicap for all updates on the mining efficiency debate!

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Read more about: Bitcoin (BTC) Mining


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