Quantification of energy and carbon costs for mining cryptocurrencies

@article{Krause2018QuantificationOE,
  title={Quantification of energy and carbon costs for mining cryptocurrencies},
  author={Max J Krause and T. Tolaymat},
  journal={Nature Sustainability},
  year={2018},
  volume={1},
  pages={711-718}
}
There are now hundreds of cryptocurrencies in existence and the technological backbone of many of these currencies is blockchain—a digital ledger of transactions. The competitive process of adding blocks to the chain is computation-intensive and requires large energy input. Here we demonstrate a methodology for calculating the minimum power requirements of several cryptocurrency networks and the energy consumed to produce one US dollar’s (US$) worth of digital assets. From 1 January 2016 to 30… Expand
54 Citations

Figures and Tables from this paper

Bitcoin-Energy Markets Interrelationships - new evidence
  • Highly Influenced
The Financial Market Effects of Cryptocurrency Energy Usage
  • 5
  • Highly Influenced
Energy and Performance Comparison of Cryptocurrency Mining for Embedded Devices
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 40 REFERENCES
Sustainability of bitcoin and blockchains
  • 129
  • PDF
Bitcoin mining and its energy footprint
  • 341
  • PDF
Bitcoin's Growing Energy Problem
  • 200
Some Simple Economics of the Blockchain
  • 264
  • Highly Influential
  • PDF
The Economics of Bitcoin Mining, or Bitcoin in the Presence of Adversaries
  • 436
  • PDF
The future of cryptocurrencies: Bitcoin and beyond
  • 54
  • PDF
An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends
  • 1,175
  • PDF
...
1
2
3
4
...