Is there a difference between the CO2 emission of different cryptocurrencies?

General CO2 emissions of crypto mining

Bitcoin, for example, uses an estimated 197 TWh per year, which is more than the annual power consumption in Ireland. In addition to this, bitcoin mining produces large amounts of electrical waste as it relies on powerful computers that solve complex algorithms to confirm transactions in the blockchain.

Why can cryptocurrencies have different sizes of CO2 footprint?

Different cryptocurrencies use different consensus mechanisms. As a result, the CO2 footprint of different cryptocurrencies can vary greatly. For example, the most common consensus mechanism in cryptocurrencies is Proof of Work (PoW).



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ImpactScope is a Geneva-based social enterprise providing CO₂ offsetting solutions to crypto enthusiasts, bitcoin miners and digital asset marketplaces.