Will Bitcoin Bring the End of the World and Global Water Scarcity?

A new study has come to light that suggests bitcoin mining used nearly 1,600 gigaliters (GL) of water in 2021, which some say could contribute to global water scarcity. However, despite the spicy anti-Bitcoin headlines and criticism, the activity is becoming more and more sustainable.

According to mainstream media reports, BTC transactions could cause global water shortages; for example, according to the BBC, each transaction “uses enough water to fill a swimming pool”. The claims come from hypothetical calculations that look at the amount of water needed to cool BTC mining systems. According to the study, up to 2,200 billion liters of water could be “wasted” in 2023.

However, the report is clearly misleading because the water used is neither wasted nor destroyed. This is because excess energy and recycled water from hydropower plants are often used to carry out the activity. Not to mention that mining is becoming more and more sustainable (see: over 50% renewable energy in BTC mining). So from an environmental perspective, things are rapidly improving on Bitcoin’s energy usage front.

Another study found that mining could also benefit power grids by increasing resiliency. In short: Bitcoin will not bring about the end of the world, nor will it cause a climate crisis — as claimed by US Senator Elizabeth Warren.