Bitcoin mining is not that bad for our mother nature, after all. According to a recent study, Big Tech's carbon emissions continue to grow exponentially. This is largely due to the rise of generative artificial intelligence. Amazon alone now produces more carbon dioxide per year than all global Bitcoin mining.
Most major U.S. tech firms began disclosing emissions in 2019. And that data is scary.
Data shows Big Tech has released more CO2 since 2019 than Bitcoin has since 2014.
Bitcoin's exact carbon footprint is difficult to calculate. Researchers lack comprehensive power grid data from all mining countries. However, cost estimates compared to mining activity provide feasible approximations.
A United Nations University study found Bitcoin mining consumed 173.42 Terawatt hours of electricity in 2020-2021. This exceeds Pakistan's energy use, a nation of 220 million.
Another study estimated Bitcoin mining produced 65.4 megatonnes of CO2 annually as of 2022. This equals Greece's entire carbon footprint.
Critics argue Bitcoin's value doesn't justify its climate impact. But how does it compare to tech companies?
Amazon self-reported 71.54 million metric tons of CO2 emissions in 2021. This surpasses Bitcoin's estimated 65.4 million metric tons.
Google reported 14.3 million tons in 2023. Microsoft reported 15.3 million tons. Combined with Amazon, this exceeds 100 million tons annually. Apple's 15.6 million tons are not included.
Direct comparisons between company reports and Bitcoin estimates aren't entirely scientific. However, Big Tech's footprint is clearly larger, even while we don't have exact numbers. And we don't know if we ever will, which is pretty sad.
Assuming AI, Bitcoin, and cloud computing data centers have similar power demands, U.S. Big Tech has likely emitted more carbon since 2019 than all Bitcoin mining in history.