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As a consequence of high electrical energy consumption, cryptocurrencies have also been found to have high carbon footprints. The carbon footprint of Bitcoin alone was estimated to be 63 MtCO 2 in 2018 [21] and 55 MtCO 2 in 2019 [9].Another study in 2018 [22] stated a footprint of 38.73 MtCO 2, which was equivalent to Denmark, over 700,000 Visa transactions, and nearly 49,000 h of YouTube viewing.
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