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Bitcoin vs Gold mining shocking environmental impact

Tired of this accusation, I decided to research it myself based on facts instead of tweets and articles published by suspicious financial media owned by Billionaires who are financially incentivized to protect their assets.

Bitcoin Hash rate is 160m Terahash/s

1 Antminer 9 produces ~13.5 TH/s and consumes 1.5 KWh (less than this, but let’s be pessimistic)

So for the Top hashrate 160 TH/s (it’s less today, but let’s keep pessimistic) we would need around 12 million Antminers.

12M antminers * 1.5 KWh = 18 GigaWatts hour

So we can pessimistically assume Bitcoin network consumes 18 GWh.

Now Gold, uses [~132 Terawatts per year, so around 15 Gigawatts hour.](https://www.coindesk.com/microscope-true-costs-gold-production)

However, most of the power source for Gold mining is fossil fuels, including coal, because of the several procedures required for processing Gold can’t even use renewables. Also, Bitcoin is mostly renewables because it’s economically viable to do it this way. In places like Iceland where cooling is easier for Bitcoin mines, most of the power is geothermal.

On top of this, the amount of toxic chemicals used by Gold mining industry and released into the environment make this argument absolutely ridiculous.

**TL;DR Gold shits on the environment on a scale that Bitcoin doesn’t even come close to touch.**



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