Bitcoin mining is often criticised for its environmental impact, but it may have the potential to support the transition to renewable energy sources.

As of January 19, 2024, Bitcoin consumes 147.3 terawatt-hours of energy annually, equivalent to the electricity consumption of countries like Ukraine, Malaysia, and Poland.

However, a significant portion of this energy comes from fossil fuels, contributing to concerns about its environmental impact.

While Bitcoin's carbon emissions, energy consumption, and water usage are significant issues, they represent only one aspect of the overall picture.