Bitcoin already consumes more electricity than Argentina

Bitcoin exceeds $ 60,000 0:55

(CNN Spanish) -

A cryptocurrency that annually consumes as much electricity as Finland and leaves a carbon footprint comparable to that of Switzerland: this is what is behind the “boom” of bitcoin.

The data, published in the bitcoin energy consumption index of Digiconomist, a site specialized in digital currencies, reflects the environmental footprint that worries some experts and figures such as Bill Gates, founder of Microsoft.

In an interview with

The New York Times

, Gates said that bitcoin "uses more electricity per transaction than any other method known to mankind."

• Bitcoin: what it is, how it works, where to buy it and everything you need to know

How much energy are we talking about?

The University of Cambridge also has a bitcoin electricity consumption index that provides the answer.

According to their data, the system that allows the operation of the cryptocurrency uses 129.24 terawatt-hours (TWh) per year, more than Argentina uses annually.

The virtual currency is already on its way to surpass Sweden in energy consumption.

Although bitcoin is digital, it is not necessarily a green option.

The process of "mining" these coins using computers in large information centers directly affects the environment.

China is the country where the most bitcoins are mined and, in provinces such as Xinjiang in the north, coal is the source that provides the electrical energy to make this type of operations possible.

In fact, according to a study by the University of Cambridge, in Asia and the Pacific higher proportions of this fossil fuel are used for cryptocurrencies compared to other parts of the world.

The production of these digital currencies and the maintenance of the network causes a level of carbon emissions that could exacerbate global warming.

In the case of bitcoin, a 2019 study published in the scientific journal

Joule

estimates that the cryptocurrency generates approximately 22 megatons of carbon dioxide per year.

In other words, it emits the same CO2 as cities like Las Vegas, Kansas City, Caracas or Lima.

Despite the environmental consequences, bitcoin's popularity is growing and its price continues to skyrocket.

The virtual currency surpassed the $ 60,000 mark on Saturday, a few weeks after passing the $ 50,000 per unit barrier.

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