Just one Bitcoin transaction consumes the same amount of water used to fill a swimming pool
A single Bitcoin transaction can use the same amount of water as it takes to fill a swimming pool, according to a new study on the world's most popular cryptocurrency.
He estimates that in 2021, the Bitcoin factory, used in part to create new Bitcoins, consumed over 1,600 gigaliters of water worldwide with each Bitcoin transaction using an average of 16,000 liters of water.
Bitcoin mining's high rate of water consumption could affect drinking water if it continues to operate unregulated, especially in countries already struggling with water shortages, including the United States, argued the study published in the journal Cell Sustainability Reports on Wednesday.
Bitcoin mining requires huge computing power to solve mathematical equations online. Correct answers are then rewarded with a portion of the Bitcoin value.
The water, which evaporates, is used to cool computers in large data centers and also to lower the temperature of the coal and gas-fired power plants that also power Bitcoin mining computers.