The bitcoin network generates 114 million tonnes of CO2 per year. That figure is roughly the same as the Czech Republic’s CO2 emissions. The bitcoin network also consumes 3,222 gigalitres of drinking water. A single bitcoin transaction currently generates as much CO2 as watching around 117,000 hours of YouTube videos, or processing 1.5 million Visa transactions.

In mining, many players compete with each other, but only one ultimately wins. This consumes a lot of electricity. This often comes from fossil fuel sources, which leads to high CO2 emissions.

The bitcoin network emits 114 million tonnes of CO2 per year, a level roughly equivalent to the Czech Republic’s annual emissions. It also consumes 3,222 gigalitres of drinking water for mining operations. This footprint is driven by electricity use, which often comes from fossil fuels, contributing to high CO2 emissions.

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