this post was submitted on 27 Jul 2025
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[–] qaz@lemmy.world 18 points 4 months ago* (last edited 4 months ago) (32 children)

Yes, but that still means that the other half is fossil fuel.

Bitcoin mining's distribution makes it difficult for researchers to identify the location of miners and electricity use. It is therefore difficult to translate energy consumption into carbon emissions. As of 2025, a non-peer-reviewed study by the Cambridge Centre for Alternative Finance (CCAF) estimated that bitcoin consumed 138 TWh (500 PJ) annually, representing 0.5% of the world's electricity consumption and resulting in annual greenhouse gas emissions of 39.8 Mt CO2, representing 0.08% of global emissions and comparable to Slovakia's emissions.

I think people should really reconsider using PoW cryptocurrencies. Ethereum was able to reduce their energy consumption by 99.95% by switching to PoS and it's still doing fine. IMO Bitcoin is outdated technology that is just used as a pyramid scheme due to its name recognition.

[–] O_i@lemmy.world -5 points 4 months ago (31 children)

Compared to our current system though? How much does the entire banking and credit card industry contribute to emissions for almost the same service? Bitcoin incentivises energy companies to mine BTC with excess energy.

[–] Auli@lemmy.ca 1 points 4 months ago (3 children)

There is no excess energy though. They wouldn't be making that energy if it wasn't for Bitcoin.

[–] O_i@lemmy.world 1 points 4 months ago

I’ll see if I can link it but some companies do, I think specifically it has to do with renewable energies but don’t quote me on that

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