Geographic distribution of Bitcoin holders/users 17 and Carbon footprint of Bitcoin mining including its supply chain *The size of the bubbles in the figure shows the magnitude.

Geographic distribution of Bitcoin holders/users 17 and Carbon footprint of Bitcoin mining including its supply chain *The size of the bubbles in the figure shows the magnitude.

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Bitcoin is a virtual, decentralized currency based on Blockchain technology. Regardless of where you send Bitcoin, the greenhouse gas emissions stemming from these transactions are distributed around the world. Furthermore, with the increasing public and institutional interest in Bitcoin, the value, complexity of Bitcoin mining, Blockchain networks...

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... of where you send Bitcoin, GHG emissions stemming from these transactions are distributed around the world. Figure 2 shows the global distribution of greenhouse gas emissions resulting from Bitcoin mining across the globe and geographic locations of Bitcoin holders (nodes). Bitcoin nodes reflect the intensity of Bitcoin holders/users in the associated locations. ...

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... These findings suggest that the increasing Bitcoin value and returns have a negative impact on world sustainability. This outcome is consistent with previous studies (De Vries, 2018;Li et al., 2019), where they found that increased Bitcoin is harmful for sustainability due to high energy consumption and carbon emissions around the globe (Gallersd€ orfer et al., 2020;Onat et al., 2021). Recently, Elon Musk also announced that Tesla will no longer accept Bitcoin because Bitcoins are using massive amounts of fossil fuel for transactions and mining. ...
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This article aims to explore the co-movement of daily returns among S&P green bonds (GB/GBs), the top five sustainable cryptocurrencies, Bitcoin, the Dow Jones Sustainability World Index (DJSWI) and the Dow Jones Sustainability Emerging Market Index (DJSEMI) to determine whether GBs, Bitcoin and sustainable cryptocurrencies are truly sustainable; in addition, it investigates hedging and diversification opportunities. Using a partial wavelet coherence framework to capture the bivariate co-movement, our findings show strong (weak) positive co-movements among GB (sustainable cryptocurrencies) and DJSWI returns, where GBs (sustainable cryptocurrencies) have a heterogeneous leading role in the short-term and long-term horizons. Results indicate moderate positive (negative) co-movement among GBs and sustainable cryptocurrencies (Bitcoin) and DJSWI in the short run (long run). Overall, the results show GB (sustainable cryptocurrencies) acts as a diversifier for Bitcoin and sustainable cryptocurrencies in most cases (DJSWI). However, increasing Bitcoin returns adversely impacts the DJSWI in the long run. Findings are equally imperative for green investors, crypto traders and policymakers, where investors and traders can earn financial and social returns, and policy-makers can deploy suitable policies for the development of sustainable cryptocurrency mining processes. The role of Bitcoin is alarming for the United Nations Sustainable Development Goals and global greener economy.