Proof-of-Work Cryptocurrency Mining: Environmental BOMB, Not Balm, for the Planet

by Karen Edelstein, FracTracker Eastern Program Coordinator

Initially, #cryptocurrency was touted as an alluring means of democratizing access to wealth. However, companies that utilize “proof-of-work” mechanisms behind “winning” a Bitcoin require massive amounts of electricity to run calculations on the hundreds of thousands of computers that churn away 24/7, most often drawing electricity from the grid. The emissions from carbon-based fuel that generate electricity are a primary driver of the #climatecrisis.

Since late 2021, FracTracker has been collecting information on cryptomining operations around the United States, and has partnered with?Global Energy Monitor?to further research, document, and map many more of these cryptocurrency mining operations. Our?interactive map?shows how widespread these facilities are throughout many parts of the United States. Note that information regarding these facilities may have changed since this map was last updated in November 2022.

Because there is no centralized registry or clearinghouse for this elusive industry, it is challenging, if not impossible, to maintain an up-to-the-minute and comprehensive tally of all the locations, sizes, and other details about where new cryptocurrency mining facilities are emerging. The economic and physical landscape of cryptocurrency mining is in constant flux as new energy sources are considered and others ruled out, companies expand while others consolidate or close, and climate legislation evolves. In addition, as various currency platforms choose to shift from energy-intensive strategies to those that are vastly more energy-efficient, we may see additional contractions or expansions of operations.

As of our most recent tally in late November 2022, we have information on 165 sites throughout the United States that are, or have been, associated with cryptocurrency mining. Of these 165 facilities, 84 are thought to be currently operating, 41 are proposed, 7 are under construction, and two have been defeated. The status of the remaining 33 is unknown. Read more →

FracTracker Alliance is a registered 501(c)3 organization that maps, analyzes, and communicates the risks of oil, gas, and petrochemical development to advance just energy alternatives that protect public health, natural resources, and the climate. Click here to subscribe to our monthly newsletter.