Matthew Sparkes in New Scientist:
Buying or selling bitcoin uses 16,000 litres of clean water for every single transaction, which could exacerbate existing droughts around the world. While the energy consumption and carbon emissions produced by bitcoin and other cryptocurrencies have been well studied, this is the first assessment of its water use and wider environmental impact.
Alex de Vries at the VU Amsterdam School of Business and Economics in the Netherlands has calculated that mining – the computational process that secures the bitcoin network – uses between 8.6 and 35.1 billion litres of water per year in the US alone. He says that bitcoin used 1.6 trillion litres of water globally in 2021, and expects this to rise to 2.3 trillion litres this year. Broken down per transaction, that means a single bitcoin trade consumes 16,000 litres of water – enough to fill a small swimming pool. This is “increasingly hard to defend”, says de Vries.
More here.