2021’s BTC Energy Use surpasses 2020’s. A study claims that each tx produces 272g e-waste.

According to a recent study, Bitcoin has used more power in 2021 that it did in 2020. According to a new study, Bitcoin has used more power this year than in 2020. The Bitcoin network will have used 91 TW/h by the end of 2019, which is one trillion watts/hour. This figure is higher than the 67 TW/h estimate for 2020. According to the Cambridge Bitcoin Electricity Consumption Index, BTC will consume an additional 95.68 TW/h before the end of 2019. This is roughly the same as the Philippines’ power consumption. Science Direct also found another problem — electronic waste. E-waste is generally defined as discarded electronics and computer equipment. According to the report, one Bitcoin transaction generates 272 grams of electronic waste. Most of it is old mining equipment. The report states that Bitcoin miners “cycle through an increasing amount of short-lived equipment that could exacerbate global electronic waste growth.” It also suggests that one transaction on the Bitcoin network can produce 272 grams of ewaste. To put this in perspective, Apple could face a huge e-waste problem as it has over 1.65 billion devices on its ecosystem. Zdnet estimates that this could lead to 250,000 metric tons of electronic waste when the devices become obsolete. Bitcoin accounts for just 0.11% of the global total for ewaste in 2021. This is 57.4 millions metric tons according Statista. Bitcoin mining is just 0.43 percent of global electricity consumption. According to Cambridge University, this is less than the 104 TW/h that refrigerators in the U.S. use. The Onion offered a more humorous view on Bitcoin’s power consumption. They claimed that the computing power used to mine Bitcoin is actually saving humanity. The logic behind this sardonic premise was that if Bitcoin mining were stopped, the world’s computers would “most likely use that computational power towards becoming self-aware and, ultimately to exterminating the human species.” More of it is renewable, as new farms and factories are built in the U.S. and Canada using green energy.

Relevant news

Leave a Reply