Each Bitcoin transaction* equals approx. 1 tonne of CO₂
At ImpactScope we believe in the future of digital currencies. We are, however, concerned by the significant energy requirements of Bitcoin in particular.
Each year the Bitcoin network consumes approximately 1 % of global electricity. Unfortunately, there is overwhelming evidence that more than 60% of Bitcoin mining activity depends on fossil fuels. This results in an annual carbon footprint of 114 million tonnes of CO₂. That's the same as putting an extra 5.5 million diesel cars on our roads each year.
Within months of being emitted, carbon dioxide diffuses evenly throughout the lower atmosphere. This means that when we reduce or prevent CO₂ emissions on one side of the world, we can help reduce the overall CO₂ levels of the planet. This is where offsetting comes in.
ImpactScope supports the Sustainable Development Goals: