Second-Largest Cryptocurrency Slashes Energy Use

Mitch Leslie

Engineering ›› 2023, Vol. 25 ›› Issue (6) : 6-8.

PDF(631 KB)
PDF(631 KB)
Engineering ›› 2023, Vol. 25 ›› Issue (6) : 6-8. DOI: 10.1016/j.eng.2023.04.003
News & Highlights

Second-Largest Cryptocurrency Slashes Energy Use

Author information +
History +

Cite this article

Download citation ▾
Mitch Leslie. Second-Largest Cryptocurrency Slashes Energy Use. Engineering, 2023, 25(6): 6‒8 https://doi.org/10.1016/j.eng.2023.04.003

References

[1]
DeVon C. Bitcoin lost over 60% of its value in 2022—here’s how much 6 other popular cryptocurrencies lost [Internet]. New York City: Consumer News and Business Channel (CNBC); 2022 Dec 23 [cited 2023 Feb 3]. Available from: https://www.cnbc.com/2022/12/23/bitcoin-lost-over-60-percent-of-its-valuein-2022.html.
[2]
Yaffe-Bellany D, Rashbaum WK, Goldstein M. FTX’s Sam Bankman-fried is arrested in the Bahamas [Internet]. New York City: The New York Times; 2022 Dec 12 [cited 2023 Feb 3]. Available from: https://www.nytimes.com/2022/12/12/business/ftx-sam-bankman-fried-bahamas.html.
[3]
Madhok D. The world’s second biggest cryptocurrency just got a lot greener [Internet]. New York City: CNN Business; 2022 Sep 15 [cited 2023 Feb 3]. Available from: https://www.cnn.com/2022/09/15/tech/ethereum-mergecrytocurrency-energy-consumption-hnk-intl/index.html.
[4]
Leslie M. Will cryptocurrencies break the energy bank? Engineering 2020;6(5):489–90.
[5]
De Vries A. Cryptocurrencies on the road to sustainability: Ethereum paving the way for Bitcoin. Patterns 2023;4(1):100633.
[6]
Bitcoin energy consumption index [Internet]. Amsterdam: Digiconomist; 2022 Sep 1 [cited 2023 Feb 3]. Available from: https://digiconomist.net/bitcoinenergy-consumption.
[7]
Electricity consumption by country 2023 [Internet]. Walnut: World Population Review; [cited 2023 Feb 3]. Available from: https://worldpopulationreview.com/country-rankings/electricity-consumption-by-country.
[8]
The Merge—implications on the electricity consumption and carbon footprint of the Ethereum network [Internet]. Dingolfing: Crypto Carbon Ratings Institute; 2022 Sep [cited 2023 Feb 3]. Available from: https://carbonratings.com/.
[9]
Ethereum energy consumption index [Internet]. Amsterdam: Digiconomist; 2022 Sep 1 [cited 2023 Feb 3]. Available from: https://digiconomist.‍net/ethereum-energy-consumption.
[10]
Gallersdörfer U, Klaaßen L, Stoll C. Energy consumption of cryptocurrencies beyond Bitcoin. Joule 2020;4(9):1843‒6.
[11]
Historical Bitcoin greenhouse gas emissions [Internet]. Cambridge: The Cambridge Centre for Alternative Finance (CCAF); 2023 Jan 24 [cited 2023 Feb 3]. Available from: https://ccaf.io/cbeci/ghg/index.
[12]
Bitcoin mining producing tonnes of waste [Internet]. London: BBC News; 2021 Sep 20 [cited 2023 Feb 3]. Available from: https://www.‍bbc.‍com/news/technology-58572385.
[13]
De Vries A, Stoll C. Bitcoin’s growing e-waste problem. Resour Conserv Recycl 2021;175:105901.
[14]
Tabuchi H. China banished cryptocurrencies. Now ‘mining’ is even dirtier [Internet]. New York City: The New York Times; 2022 Feb 25 [cited 2023 Feb 3]. Available from: https://www.nytimes.com/2022/02/25/climate/bitcoinchina-energy-pollution.html.
[15]
Browne R. Bitcoin production roars back in China despite Beijing’s ban on crypto mining [Internet]. New York City: Consumer News and Business Channel (CNBC); 2022 May 18 [cited 2023 Feb 3]. Available from: https://www.‍cnbc.‍com/2022/05/18/china-is-second-biggest-bitcoin-mining-hub-asminers-go-underground.html.
[16]
De Vries A, Gallersdörfer U, Klaaßen L, Stoll C. Revisiting Bitcoin’s carbon footprint. Joule 2022;6(3):498‒502.
[17]
Browne R. EU agrees on landmark regulation to clean up crypto ‘wild west’ [Internet]. New York City: Consumer News and Business Channel (CNBC); 2022 Jul 1 [cited 2023 Feb 5]. Available from: https://www.cnbc.com/2022/06/30/eu-agrees-to-deal-on-landmark-mica-cryptocurrency-regulation.html.
[18]
Van Boom D. The Ethereum Merge is complete. here’s why that’s important [Internet]. San Francisco: CNET; 2022 Sep 15 [cited 2023 Feb 3]. Available from: https://www.‍cnet.‍com/personal-finance/crypto/the-ethereum-mergeis-complete-heres-why-thats-important/.
[19]
Castor A. Why Ethereum is switching to proof of stake and how it will work [Internet]. Cambridge: MIT Technology Review; 2022 Mar 4 [cited 2023 Feb 3]. Available from: https://www.‍technologyreview.‍com/2022/03/04/1046636/ethereum-blockchain-proof-of-stake.
[20]
Gonzalez O. Bitcoin mining: how much electricity it takes and why people are worried [Internet]. San Francisco: CNET; 2022 Jul 18 [cited 2023 Feb 3]. Available from: https://www.‍cnet.‍com/personal-finance/crypto/bitcoinmining-how-much-electricity-it-takes-and-why-people-are-worried/.
[21]
Staking with Ethereum [Internet]. Zug: Ethereum Foundation; [cited 2023 Feb 3]. Available from: https://ethereum.org/en/staking/.
[22]
Yaffe-Bellany D. Crypto’s long-awaited ‘Merge’ reaches the finish line [Internet]. New York City: The New York Times; 2022 Sep 15 [cited 2023 Feb 3]. Available from: https://www.nytimes.com/2022/09/15/technology/ethereum-merge-crypto.html.
[23]
Crypto winter end in sight as Ethereum looks to shake the chills—analysts [Internet]. London: Reuters; 2022 Dec 12 [cited 2023 Mar 12]. Available from: https://www.reuters.com/markets/currencies/crypto-winter-end-sight-ethereumlooks-shake-chills-analysts-2022-12-12/.
[24]
Harper C. Jilted Ethereum miners look for crypto alternatives post-merge, but pickings are slim [Internet]. New York City: Forbes; 2022 Sep 17 [cited 2023 Feb 3]. Available from: https://www.forbes.com/sites/colinharper/2022/09/17/jilted-ethereum-miners-look-for-crypto-alternatives-post-merge-butpickings-are-slim.
[25]
Orcutt M. What’s next for crypto? [Internet]. Cambridge: MIT Technology Review; 2022 Dec 20 [cited 2023 Mar 12]. Available from: https://www.technologyreview.com/2022/12/20/1064940/whats-next-for-crypto-2023.
AI Summary AI Mindmap
PDF(631 KB)

Accesses

Citations

Detail

Sections
Recommended

/