EFFECTS OF BITCOIN ON ENVIRONMENTAL AND CO2 EMISSIONS

Home Page
About
Submit A Journal
Submit A Conference
Submit Paper/Book
- Submit a Preprint
- Submit a Book
Contact

International Congress on Economics, Finance & Energy (EFE)
EFE2022 Book of Proceedings
EFFECTS OF BITCOIN ON ENVIRONMENTAL AND CO2 EMISSIONS

EFFECTS OF BITCOIN ON ENVIRONMENTAL AND CO2 EMISSIONS

Authors : Mert DEMİRCİOĞLU, Sevgi EŞİYOK

Pages : 349-357

View : 106 | Download : 33

Publication Date : 2022-12-01

Abstract :Cryptocurrencies have become as an innovative way to conduct financial transactions online. However, recent concerns about its environmental impacts have emerged. Cryptocurrencies significantly increase the energy system's load, which raises carbon emissions that contribute to global warming. The production and transmission of electricity for cryptocurrency mining has several negative environmental effects, regardless of the energy source. The impact of Bitcoin mining on climate change was investigated in this study. Therefore, it focuses on the correlation between the worldwide carbon emission index and Bitcoin mining's energy consumption. The objective is to forecast future carbon emissions from Bitcoin mining using artificial neural networks. Using an Artificial Neural Network (ANN), CO2 emissions are estimated for the following periods based on the values such as Bitcoin market price, Bitcoin USD exchange trade volume, Bitcoin hash rate, Bitcoin mining's energy consumption of previous periods.
Keywords : Cryptocurrencies, Bitcoin, Climate Change, CO2 Emission, Artificial Neural Networks

ORIGINAL PAPER URL

* There may have been changes in the journal, article,conference, book, preprint etc. informations. Therefore, it would be appropriate to follow the information on the official page of the source. The information here is shared for informational purposes. IAD is not responsible for incorrect or missing information.