0359 GMT October 22, 2021
According to the researchers’ estimates, the 30,700 tons average 272g per transaction, while an iPhone 13 weighs 173g. This is because bitcoin mining utilizes a large amount of energy, BBC wrote.
“Attention has been focused on the electricity this consumes –currently more than the Philippines– and the greenhouse gas pollution caused as a result.”
Amid the calculations, the computers that miners use for bitcoin mining have an average lifespan of 1.29 years, which results in thousands of e-waste tons annually.
“The amount of e-waste produced is comparable to the ‘small IT and telecommunication equipment’ waste of a country like the Netherlands researchers said –a category that includes mobile phones, personal computers, printers, and telephones.”
According to Quartz, any downtime in the bitcoin mining system makes the next coin harder to earn, “and the only way to get an edge over competitors is to run more computers.”
So, when the price of bitcoin increases, so does the mining activity, the energy usage, and the carbon footprint.