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Bitcoin uses how much water?

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Tony Paradiso's picture
Principal, E3

I provide consulting services primarily assisting renewable energy-related companies in areas such as strategic planning, marketing, and operations. I have helped bring to market numerous leading...

  • Member since 2023
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  • Feb 5, 2024
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With the approval of  ETFs, cryptocurrencies may gain momentum. The problem is that mining them is not what you would define as environmentally friendly.

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Matt Chester's picture
Matt Chester on Feb 5, 2024

Is there another side to the coin, though? If it replaces other financial systems that also have an energy footprint, can that be factored in? 

Tony Paradiso's picture
Tony Paradiso on Feb 6, 2024

That's a valid point. I wonder how much power is consumed to print and mint currency? There is also power consumed to dispose of it and to some in handling (counters, transport, etc.) etc. With that said I believe it likely pales in comparison with what it takes to mine cryptos. I saw an article the other day that crypto accounts for 2% of total electricity consumption in the U.S. 

Tony Paradiso's picture
Thank Tony for the Post!
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