Bitcoin mining, the process of creating the cryptocurrency, uses more electricity than the whole of Belgium, the United Nations Conference on Trade and Development (UNCTAD) indicates in its latest report.
Between 2015 and 2023, the energy used in Bitcoin mining skyrocketed to 121 terawatt-hours (TWh), surpassing Belgium’s consumption of 78.4 TWh last year.
From 2018 to 2022, demand from the 13 largest data centres doubled, UNCTAD highlighted, demanding tighter rules to limit the environmental footprint of increasing digitalisation.
The tech industry is also a significant user of water. Last year, Google and Microsoft’s data centres consumed 21.2 million and 6.4 million cubic metres of water for cooling, respectively.
Additionally, the ICT sector was already responsible for 1.5 to 3.2% of global CO2 emissions by 2020.
These sectors' environmental impact is deemed unfair by the United Nations, as developing countries with natural resources pay a high price for extremely low returns.
