The cryptocurrency sector is increasingly integrated into the global
financial system. The world’s transition to a digital economy,
facilitated by major technological breakthroughs, has several benefits.
But as the demand for exchanging and investing in digital currencies is
growing , the world must pay careful attention to the hidden and
overlooked environmental impacts of this growth. The dramatic increase
in the price of Bitcoin (BTC) over the last year and the resulting
global race for BTC mining is turning the cryptocurrency market turning
into one of the world’s leading polluting sectors. Yet, our knowledge
about the environmental footprints of mining BTC is very limited. To
address this hap, this study provides the first estimates of the carbon,
water and land footprints of BTC mining around the world.