Swiss study: Bitcoin is a big carbon-emitter
A Bitcoin transaction generates around 486 kilograms of CO2 according to a new study conducted by Lucerne University of Applied Sciences and Arts and Swiss Economics on behalf of the German Federal Environment Agency.
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Swiss study: Bitcoin is a big carbon-emitter
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But not every cryptocurrency has such a heavy impact on the environment. According to the study, a transaction involving Ethereum – the second-largest cryptocurrency – only generates 0.003 kilos of CO2 per transaction. That is less than a transfer with the online payment service PayPal.
Bitcoin’s high CO2 emissions are linked to what is known as “mining”. This involves thousands of computers around the world competing to confirm new transactions and generate new bitcoins. This competition requires large amounts of electricity.
+ Bitcoin causes 98 million tonnes of CO2 per year
Ethereum, on the other hand, largely dispenses with this energy-intensive process. As a result, energy consumption and therefore CO2 emissions are significantly lower.
Translated from German by AI/jdp
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