But CoinMetrics data indicates more than 1 million bitcoin addresses are active, daily, out of up to 106 million accounts active in the past decade, as tallied by the exchange. It’s impossible to say how many people use bitcoin every month, and they certainly use it less often than residents in Amman use Jordanian dinars. Jordan, in particular, is home to 10 million people. This puts the bitcoin economy on par with the carbon dioxide emissions of a small, developing nation like Sri Lanka or Jordan. “I think Bitcoin consumes half as much energy as all the world’s data centers at the moment.”Īccording to the University of Cambridge’s bitcoin electricity consumption index, bitcoin miners are expected to consume roughly 130 Terawatt-hours of energy (TWh), which is roughly 0.6% of global electricity consumption. “Ideally, change comes from within,” de Vries said, adding he hopes Bitcoin Core developers will alter the software to require less computational energy. Even de Vries told TechCrunch that if eco-conscious regulators “took all possible actions against Bitcoin, it’s unlikely you’d get all governments to go along with that” mining regulation.
The cryptocurrency mining industry, which garnered almost $1.4 billion in February 2021 alone, is not yet unusually terrible for the environment compared to other aspects of modern life in an industrialized society.
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