The Dutch central bank (De Nederlandsche Bank) assessed the environmental impact of Bitcoin. As assessed, a single Bitcoin transaction generates approx. 402 kg of carbon dioxide.

The issue of cryptocurrencies and their carbon footprint has raised much concern since last year. A similar study has been conducted by Digiconomist^[1] – its Bitcoin Energy Consumption Index provides data on the total energy consumption of the Bitcoin network. According to Digiconomist, the total greenhouse gas emissions are 37 megatons of CO₂ every year – the result is equivalent to the annual carbon footprint of New Zealand.

Considering potential serious climate damage from the trade in cryptocurrencies, the Director of the Bureau for Economic Policy Analysis (Centraal Planbureau, CPB), the Dutch government’s advisory body, suggested last year that Bitcoin and other cryptocurrencies should be banned in the Netherlands. A similar view has also been expressed by representatives of other European countries, especially from national authorities competent for environmental protection.

More details can be found at: https://www.dnb.nl/en/actueel/dnb/dnbulletin-2022/better-insight-into-bitcoin-s-climate-impact/

^[1] https://digiconomist.net/bitcoin-energy-consumption/ [accessed on: 20 January 2022]