Ethereum

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Bitcoin

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<ul class="list-ic vertical"> 
 <li> 1 <a>The report shows BTC’s water footprint in the US is estimated to be between 8.6 to 35.1 GL.</a> </li> 
 <li> 2 <a>In 2022, Bitcoin mining estimatedly produced 65 metric tons of carbon dioxide globally.</a> </li> 
</ul> 
Bitcoin (BTC), the largest crypto asset by market cap, is spreading its water footprint according to the latest report. Crypto mining is often associated with carbon emissions with BTC being the preferred crypto asset among crypto miners. The digital coin’s value motivates them to make profits. It is trading at $37,700 at the time of writing. 
<h2 class="wp-block-heading" id="strong-choosing-fresh-water-isn-t-a-wise-choice-strong">Choosing Fresh Water Isn’t a Wise Choice</h2> 
Crypto miners utilize water in a couple of ways—as a cooling system for their machines and drawing energy from thermoelectric sources. Water evaporates in both cases. The study dubbed “Bitcoin’s growing water footprint” centers around freshwater usage. Non-fresh water can also be used for this purpose. 
In 2021, the water footprint of BTC reached nearly 1,600 gigalitres (GL), almost double in contrast to the previous year. Kazakhstan accounted for 63 percent of it. China’s blanket ban on cryptocurrencies in the year coerced crypto miners to shift to the country alongside other nations like the United States.&nbsp; 
Furthermore, Bitcoin’s water footprint in the US is estimated to be between 8.6 to 35.1 GL. More precisely, nearly 34 BTC miners consume 3.91 GW of energy. Weighted average water usage effectiveness (WUE), a ratio determining water and energy consumption in a data center, of miners in the nation ranges from 0.25 to 1.03 liters (L) per kWh. One GL is exactly one billion liters. 
The paper asserts that “Bitcoin’s expanding water footprint must be considered in the context of escalating water scarcity.” According to UNICEF, a humanitarian aid organization, around four Billion people suffer water scarcity for at least a month. By 2025, half the global population may face this problem which is less likely to end within a month. 
Ethereum (ETH), the second largest <a href="https://www.thecoinrepublic.com/2023/11/29/forta-fort-price-forecast-a-hidden-gem-in-the-crypto-space/" target="_blank" rel="noreferrer noopener">cryptocurrency </a>by market capitalization, is presented as an example to mitigate the climate-related risks of crypto. In 2022, the blockchain network transitioned to a less energy-intensive algorithm dubbed Proof-of-Stake (PoS). The community called the event The Merge. Experts speculate that it will decline the network’s power consumption by 99 percent. 
Lastly, the study says that “there are various ways to reduce the water consumption of Bitcoin miners. Miners can choose locations with favorable climate conditions to minimize direct water consumption. Immersing mining devices in a dielectric fluid can also provide cooling without relying on water. Furthermore, indirect water consumption can be reduced by using power sources that do not require freshwater.” 
Threats regarding climate change are hovering just above the ozone layer waiting for carbon emissions to open gates for them. It also contributes to water scarcity across the globe. A warmer world will cause the air to suck up more water from everything including plants, soil, oceans, and more. 
According to the Environmental Protection Agency (EPA), an independent US government agency, Bitcoin mining estimatedly produced 65 metric tons of carbon dioxide last year globally.

Water Scarcity is a Big Challenge Overlooked by Bitcoin Miners

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Thecoinrepublic.com

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