As groundbreaking and promising that crypto currencies are, they use quite a bit of power to accomplish their goal. The computing power needed to complete a single transfer is 215 kilowatt-hours. There are currently over 300,000 transfers done a day on the Bitcoin network alone. There are over 1300 coins and tokens in the world right now. Not all of them require mining equipment to accomplish transfers, but most do. This equipment acts much like a computer that solves a very difficult math algorithm to ensure the transaction is valid and can be added to the public ledger, requiring much more electricity than a normal computer, however. China mines a majority of the Bitcoin transactions in the world. China currently generates 73% of their power from fossil fuels. This is, in turn, dumping tons of carbon dioxide into the atmosphere. Crypto currencies are not going away. The technology is only getting started and growing in multiples yearly. It has been said that offsetting carbon in one place does not mean the rest of the region is not also positively affected. The more that is offset, the greater reach an improved air currant can reach. The reduction of carbon dioxide emissions entering our atmosphere benefits everyone. Why not start with planting a tree and becoming part of the Meadow and Pine Afforestation Project? Let's see how far our impact reaches together.

News

1-25-2018 - Lagarde Says Cryptocurrency Mining Is Consuming Too Much Power

The electricity needed by the global network of computers running the blockchain technology behind Bitcoin has more than tripled in the last year to more than 37 gigawatt-hours a day, according to Bloomberg New Energy Finance. That's equivalent to about 30 1.2-gigawatt nuclear reactors running at full capacity.

1-2-2018 - How is bitcoin affecting the environment?

If bitcoin miners are using the most efficient machines possible, the lowest amount of electricity they could possibly be using is 13 terawatt hours, de Vries said in an interview. That's about as much as the entire country of Slovenia. De Vries said less conservative estimates make it entirely possible that bitcoin is using as much energy as Ireland, which consumes about twice as much as Slovenia, or about 0.7 percent of the U.S. total.

11-1-2017 - One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week

This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day). Since the average American household consumes 901 KWh per month, each Bitcoin transfer represents enough energy to run a comfortable house, and everything in it, for nearly a week. On a larger scale, De Vries' index shows that bitcoin miners worldwide could be using enough electricity to at any given time to power about 2.26 million American homes.