Bitcoin Energy Use and Externalities
Andrew M. Bailey, Yale-NUS College
I have compiled below some of the most important research on bitcoin's energy use, associated externalities, mitigation strategies, and bitcoin's role in clean energy build-out. Many have appeared in reputable academic venues with at least some peer-review; industry reports are housed under a separate heading. Sources that have since proven to be questionable, whether in findings or methodology are marked with an asterisk (*); I am including these, not to recommend them as sound, but because they remain influential in public discourse about bitcoin.
Energy Use
Externalities
- Mora, et al., ‘Bitcoin emissions alone could push global warming above 2°C*’
- de Vries and Stoll, 'Bitcoin's Growing E-Waste Problem*'
- Read, The Bitcoin Dilemma (selections)*
- Houy, 'Rational mining limits Bitcoin emissions'
- Masanet, et al. ‘Implausible projections overestimate near-term Bitcoin CO2 emissions’
- McCook, ‘Drivers of Bitcoin Energy Use and Emissions’
- Ibañez and Freier, ‘Bitcoin’s Carbon Footprint Revisited’
- Köhler and Pizzol, 'Life Cycle Assessment of Bitcoin Mining'
- Paez, ‘Brandolini’s Law in Action’
Bitcoin and Clean Energy Transition
- Bastian-Pinto, et al., ‘Hedging renewable energy investments with Bitcoin mining’
- Dogan, et al. ‘Are clean energy and carbon emission allowances caused by bitcoin?’
- Lal, et al., ‘From Mining to Mitigation’
- Baur and Oll, ‘Bitcoin investments and climate change: A financial and carbon intensity perspective’
- Cross and Bailey, ‘Carbon-neutral bitcoin for nation states’
- Menati, et al., ‘High resolution modeling and analysis of cryptocurrency mining’s impact on power grids’
- Bruno et al., 'Can Bitcoin mining increase renewable electricity capacity?'
- Lal and You, 'Climate sustainability through a dynamic duo: Green hydrogen and crypto driving energy transition and decarbonization'
- Hajiaghapour-Moghimi et al., 'Cryptocurrency mining as a novel virtual energy storage system'
- Paez and Cross, 'Bitcoin and the Energy Transition'
Industry Reports