#hashbased for week 47

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Blockchain

#hashbased is a blockchain innovation newsletter provided by HashBased.com, an OKA innovation brand

Bitcoin energy consumption is comparable to a medium-sized developed country (~50-75 TWh) and there are doubts that it can be made more sustainable. Another issues related to bitcoin mining are CO2 emissions and generation of electronic waste. The waste is mainly from discarded ASICS, which can be used only for mining Bitcoin – most ASICS end up being incinerated when new models are on sale. In a recent article in Environmental Science and Technology researchers from Aalborg University describe how they “applied Life Cycle Assessment methodology to in-depth analysis of drivers of past and future environmental impacts of the Bitcoin mining network“. In general, energy production and its environmental impact vary widely across the world and when taking into account the geographical distribution of miners and the efficiency of the mining equipment Bitcoin’s energy consumption is much less then previously thought.

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Knowledge architect, futurist, enthusiast of new technologies and innovations, avid reader

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