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Crypto Climate Crisis: 284 million trees are needed to offset Bitcoin’s CO2 emissions this year

Crypto Climate Crisis: 284 million trees are needed to offset Bitcoin’s CO2 emissions this year

Crypto Climate Crisis: 284 Million Trees Required To Offset Bitcoin’s CO2 Emissions This Year Alone
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Trade education platform Forex SuggestCalculated How many trees will need planting to offset carbon emissions cryptoTransactions for the year.

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We analyse the energy needed per transaction for eight well-known brands. cryptocurrenciesThe report shows how many trees must be planted to offset the CO2 emissions of crypto transactions by comparing the total transactions projected for 2021 (based upon historical data).

The Crypto Climate Outlook for 2021

Rank Currency Energy used per transaction (kWh) CO2 emitted by Transaction (tons). Projected 2021 Electricity Consumption Projected Annual Emissions in Tons CO2 No. Trees to offset emissions
1 Bitcoin 707 0.5302500000 75,766,894,371 56,825,171 284,125.854
2 Ethereum 62.56 0.0469200000 29,267.017,296 21,950,263 109,751,315
3 Bitcoin Cash 18.957 0.0142177500 1,970,044,710 1,477 5,534 7,387 668
4 Litecoin 18.522 0.0138915000 693,681,721 520,261 2,601,306
5 Cardano 0.5479 0.0004109250 7,051,032 5,288 26,441
6 Ripple 0.0079 0.0000059250 4,243,705 3,183 15,914
7 Dogecoin 0.12 0.0000900000 1,897,998 1,423 7,117
8 Stellar 0.00003 0.0000000225 48,851 37 183
  • BitcoinIt is the most energy-intensive coin to mine and is expected to be the most polluting cryptocurrency in 2021. It is projected to emit 56.8 millions tons of CO2.
  • To offset the transactions and become carbon-neutral, it would take 284.1 million trees.
  • It is also much more energy-efficient. EthereumIt will need the second-most trees, as it is expected to emit 21.9million tons of CO2 by 2021.
  • It will take planting nearly 110 million trees to offset Ethereum’s contribution to carbon emissions this year.
  • The popularity of NFTsAlso, if it begins to flourish, it will only increase its carbon production.
  • Bitcoin CashIt is expected to produce 1.5 million tonnes of CO2 by 2021. To counter its pollution, it will require 7.4 million trees.

Methodology

Source: Transaction data Statista.

The projected total transaction figures for 2021 were calculated using data transaction trends from January to August 2021.

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The energy used per transaction was sourced from several sources, including Laptop Mag? Business Insider India, CryptoVantage.

The CO2 emissions per transaction were calculated using Carbonify’s carbon dioxide emission calculator which also calculated the number of trees required to counteract each cryptocurrency’s CO2 emissions.

Calculation of tree offset is based upon a tree planted in humid tropics that absorbs on average 50 pounds (22kg) of carbon dioxide per year over 40 years2  – each tree will absorb 1 ton of CO2 over its lifetime, but as trees grow, they compete for resources and some may die or be destroyed – not all will achieve their full carbon sequestration potential. This calculator assumes that five trees should be planted to ensure at least one tree lives to 40 years, or that their combined sequestration equals 1.

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