Crypto

A bitcoin transaction emits as much CO2 as a household in three weeks

(Belgian) A transaction carried out with bitcoins is responsible for as many CO2 emissions as an average family in three weeks, according to calculations carried out by the Dutch central bank, the DNB, as part of a study on the climate footprint of the financial sector.

Bitcoin is a cryptocurrency that works on the basis of the so-called “blockchain” technology, a kind of huge shared database. A particularly energy-intensive technology. According to the DNB, a bitcoin transaction in 2020 emitted emissions estimated at 402 kg of CO2, which corresponds to two-thirds of the monthly emissions of an average Dutch household. The DNB also notes that the ecological footprint of bitcoin transactions is increasing. In 2020, the level of CO2 emissions per transaction was a third higher than the previous year. An increase due to a growing need for calculations from the bitcoin network but also to the increase in the value of the cryptocurrency that pushes to increase the mining of bitcoins, which in turn increases the consumption of electricity. (Belgian)

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