Impacted Communities and Enviro Advocates React to New Report Showing Cryptomining’s Massive Water Consumption - Greenpeace USA (2024)

US Bitcoin mining consumes as much water as 300,000 households or Washington, D.C.

Washington, DC (November 30, 2023) – On Thursday, environmental advocates from across the country held a press conference following a groundbreaking report outlining the astounding volume of water used to mine Bitcoin. Published by Alex de Vries in the peer-reviewed Cell Reports Sustainability journal, the report is the first comprehensive estimate of total water consumption in the global Bitcoinindustry.de Vries joined national environmental advocates and local community members from New York, Texas, Pennsylvania, and Kentucky to address the concerning impact of nearby Bitcoin mining operations on water supplies and community health. Bitcoin mining’s significant water usage poses a pressing concern amid the global water crisis, with potential for even faster growth in water demand. The report warns that the sheer scale of Bitcoin mining’s water usage could impact drinking water supplies if it continues to operate without constraints, especially in countries that are already battling water scarcity, including the United States.

Not only are Bitcoin mining plants using massive amounts of water to operate, they also often discharge the water back into local water supplies or wastewater treatment facilities. This thermal pollution endangers health and wildlife habitability, including but not limited to potential harmful algal blooms, fish deaths, biodiversity loss and migration, oxygen depletion, direct thermal shock, and changes in dissolved oxygen.

Watch the virtual press conference here.

Proof-of-work cryptocurrency mining is an energy-intensive process that requires a massive fleet of single-purpose machines to operate around the clock in a race to guess numbers. A large amount of water is used to cool the computers at large data centers. In addition to cooling computers, coal and gas-fired power plants that generate electricity to power the mining must also use water to manage the temperature.

The recent report found the following:

  • In 2021, Bitcoin mining consumed over 1,600 gigaliters (GL) of water worldwide
  • In the United States, Bitcoin mining consumes about 93 GL to 120 GL of water every year, equivalent to the average water consumption of 300,000 U.S. households or a city like Washington, D.C.
  • Each transaction on the Bitcoin blockchain uses 16,000 liters of water on average, about 6.2 million times more than a credit card swipe, or enough to fill a backyard swimming pool.
  • The water footprint of Bitcoin in 2021 significantly increased by 166% compared with 2020, from 591.2 to 1,573.7 GL, and it is only expected to increase to 2,300 GL in 2023.

Alex deVries, the paper’s author and a Ph.D. student at Vrije Universiteit Amsterdam said, “Bitcoin is now responsible for consuming more water than the entire traditional financial system (bank notes + bank branches + ATMs + cashless transactions) combined. On average a backyard swimming pool worth of fresh water (over 16000 liters) goes up in smoke for every single transaction processed on the Bitcoin blockchain. This is about 6.2 million times more than the amount of water consumed for a regular credit card swipe. Many parts of the world are experiencing droughts, and fresh water is becoming an increasingly scarce resource. If we continue to use this valuable resource for making useless computations, I think that reality is really painful.”

Erik Kojola, Greenpeace USA Senior Researcher said, “This groundbreaking report underscores the widespread environmental impacts of Bitcoin mining. Bitcoin mining’s alarming water consumption is a stark reminder that the unbridled growth of this industry poses a direct threat to global water resources and necessitates immediate action. Furthermore, the disheartening contradiction of financial institutions, including BlackRock, Chase, Fidelity, and others, investing in Bitcoin mining despite their professed ESG goals raises serious concerns. The finance industry needs to accelerate action to address the environmental damage from its investment decisions – and it can start by engaging with us to clean up Bitcoin by transitioning away from the energy-intensive Proof-of-Work system.”

Mandy DeRoche, Deputy Managing Attorney at Earthjustice said, “For decades, fossil fuel power plants have been significant sources of water pollution, and energy-intensive cryptocurrency mining only prolongs this pollution. Examples like the Fortistar gas plant in North Tonawanda, New York, the Stronghold waste coal plants in Pennsylvania, and the Merom coal plant in Indiana all demonstrate the urgent need for regulatory oversight to mitigate environmental harms caused by these operations and to protect nearby communities.”

Abi Buddington, member of Seneca Lake Guardian and Secretary of the Committee to Preserve the Finger Lakes said, “The Finger Lakes region, my home, faces peril from the escalating cryptomining industry, exemplified by the Greenidge Generation plant situated a mile from my property since 2020. With its massive water withdrawals from Seneca Lake and discharge into Keuka Lake Outlet, their extensive pollution, including harmful elements like arsenic and magnesium, imperils our precious ecosystem. As local New Yorkers devoted to safeguarding our natural heritage, we demand accountability for the environmental havoc caused by this industry. Seneca Lake’s splendor, and its surrounding community, deserve greater protection and respect.”

Jackie Sawicky of the Texas Coalition Against Cryptomining said,“Navarro County in particular, and Texas in general have serious drought issues. In the era of climate change and worsening drought, we should be exceedingly discerning with every drop of water we use. We have real industries that produce real products here and the Riot Platforms bitcoin “mine” will use more water per day than all of them. For what? To guess and throw away numbers in a digital lottery that most Texans want nothing to do with.”

Contact: Gujari Singh, Greenpeace USA Senior Communications Specialist, [emailprotected], (631) 404-9977; Ana Hall, Pythia Public, [emailprotected], 914-874-9288

Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

Impacted Communities and Enviro Advocates React to New Report Showing Cryptomining’s Massive Water Consumption - Greenpeace USA (2024)

FAQs

What is the Greenpeace Bitcoin report? ›

Greenpeace USA Report Reveals the Puppet Masters Behind Bitcoin's Expansion. Greenpeace USA research reveals the intricate web linking the Bitcoin mining industry with the fossil fuel and other polluting industry groups and climate denialists that oppose needed action to address the climate crisis.

How much e-waste does crypto produce? ›

As of May 2021, researchers estimated that the entire Bitcoin network generated 30.7 metric kilotons of e-waste per year from ASICs that became unprofitable and obsolete.

How does Bitcoin affect water? ›

Based on data from previous research, de Vries calculates that Bitcoin mining consumes about 8.6 to 35.1 gigaliters (GL) of water per year in the U.S. In addition to cooling computers, coal- and gas-fired power plants that provide electricity to run the computers also use water to lower the temperature.

Why is the government against Bitcoin? ›

Key Takeaways

Governments around the world are watching Bitcoin warily because it has the potential to upend the existing financial system and undermine their role in it.

What did the Bitcoin white paper say? ›

In order to ensure that cryptographic structures - the hashes - would not be broken, the Whitepaper suggests reducing all transactions to a single hash - a root hash - which can efficiently be done by using a Merkle tree.

Is Bitcoin really bad for the environment? ›

The environmental effects of bitcoin are significant. Bitcoin mining, the process by which bitcoins are created and transactions are finalized, is energy-consuming and results in carbon emissions, as about half of the electricity used is generated through fossil fuels.

Why is blockchain bad for the environment? ›

Blockchain technology has a significant carbon footprint due to its energy-intensive process of verifying transactions and creating new blocks on the blockchain. The energy consumption of blockchain technology results in significant greenhouse gas emissions, which contribute to climate change.

What is the most polluting cryptocurrency? ›

Bitcoin is proven to be bad for the climate, environment, and communities, examples including: Bitcoin uses more energy than countries like Norway, Sweden, and Ukraine.

How is Bitcoin washed? ›

Two key components of money laundering using Bitcoin are Bitcoin mixing services and Bitcoin exchanges. Bitcoin mixing services aim to disassociate bitcoins from their source, which is often of a criminal nature. Bitcoin exchange services aim to anonymously convert bitcoins to spendable money.

Who benefits from bitcoin mining? ›

Cryptocurrency mining supports an efficient mechanism for distributing digital rewards. Miners who successfully add blocks to a blockchain automatically receive transaction processing fees and new digital tokens.

Who owns NFT? ›

The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. Initially pitched as a new class of investment asset, by September 2023, one report claimed that over 95% of NFT collections had zero monetary value.

How much is a green Bitcoin? ›

Green Bitcoin Price Summaries

Green Bitcoin's price today is US$0.3486, with a 24-hour trading volume of $250,586. GBTC is -3.61% in the last 24 hours. It is currently -19.96% from its 7-day all-time high of $0.4355, and 4.79% from its 7-day all-time low of $0.3327. GBTC has a max supply of 20.81 M GBTC.

Is Green Bitcoin wallet good? ›

5 years and still haven't had any issues. I recommend this wallet if you simply want to store bitcoin. Obviously cold storage is the best option though.

Do you have to report Bitcoin? ›

How much do you have to earn in Bitcoin before you owe taxes? You owe taxes on any amount of profit or income, even $1. Crypto exchanges are required to report income of more than $600, but you still are required to pay taxes on smaller amounts.

What is green Bitcoin? ›

What Is Green Bitcoin? The newest eco-friendly digital currency on the market, Green Bitcoin ($GBTC), provides its users with a more environmentally conscious approach to trading and income generation through its one-of-a-kind Gamified Green Staking framework.

Top Articles
Peloton’s Ultimate Guide to Running Faster and Meeting Your Speed Goals
How To Stop Microsoft Onedrive From Opening On Startup Windows 10
Evil Dead Movies In Order & Timeline
7 C's of Communication | The Effective Communication Checklist
Washu Parking
Bin Stores in Wisconsin
His Lost Lycan Luna Chapter 5
CHESAPEAKE WV :: Topix, Craigslist Replacement
Southland Goldendoodles
Find your energy supplier
Goldsboro Daily News Obituaries
Raleigh Craigs List
Craigslist Mpls Cars And Trucks
Best Suv In 2010
Daily Voice Tarrytown
Touchless Car Wash Schaumburg
Dtlr Duke St
Loslaten met de Sedona methode
Reser Funeral Home Obituaries
eugene bicycles - craigslist
Chicago Based Pizza Chain Familiarly
Walgreens On Bingle And Long Point
Feathers
4.231 Rounded To The Nearest Hundred
Criglist Miami
Amazing Lash Bay Colony
Craigslist Texas Killeen
+18886727547
How to Use Craigslist (with Pictures) - wikiHow
Wasmo Link Telegram
Jambus - Definition, Beispiele, Merkmale, Wirkung
Everstart Jump Starter Manual Pdf
Newsday Brains Only
Mississippi State baseball vs Virginia score, highlights: Bulldogs crumble in the ninth, season ends in NCAA regional
Junior / medior handhaver openbare ruimte (BOA) - Gemeente Leiden
Metro 72 Hour Extension 2022
Sinai Sdn 2023
Directions To Advance Auto
T&Cs | Hollywood Bowl
VPN Free - Betternet Unlimited VPN Proxy - Chrome Web Store
Kb Home The Overlook At Medio Creek
Aurora Southeast Recreation Center And Fieldhouse Reviews
Theater X Orange Heights Florida
Shiftselect Carolinas
SF bay area cars & trucks "chevrolet 50" - craigslist
10 Bedroom Airbnb Kissimmee Fl
Morbid Ash And Annie Drew
Costco Gas Price Fort Lauderdale
Craigslist.raleigh
Morgan State University Receives $20.9 Million NIH/NIMHD Grant to Expand Groundbreaking Research on Urban Health Disparities
4015 Ballinger Rd Martinsville In 46151
Latest Posts
Article information

Author: Kieth Sipes

Last Updated:

Views: 5938

Rating: 4.7 / 5 (67 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Kieth Sipes

Birthday: 2001-04-14

Address: Suite 492 62479 Champlin Loop, South Catrice, MS 57271

Phone: +9663362133320

Job: District Sales Analyst

Hobby: Digital arts, Dance, Ghost hunting, Worldbuilding, Kayaking, Table tennis, 3D printing

Introduction: My name is Kieth Sipes, I am a zany, rich, courageous, powerful, faithful, jolly, excited person who loves writing and wants to share my knowledge and understanding with you.