In this study, we used a combination of AI-assisted analysis of social media discourse and collaboration with industry experts to delve into the key research needs associated with the Bitcoin mining industry. We identified primary threats, opportunit...
Bitcoin, the most valuable and energy-consuming cryptocurrency, has recently been at the center of a heated debate over its environmental impact. This controversy has caught the public’s attention, prompting us to investigate the energy consump...
Understanding how Bitcoin mining is distributed across countries is important for evaluating both the sustainability and resilience of the network. In this study, we examine the evolution of total Bitcoin electricity consumption alongside the geograp...
Selfish mining is a typical malicious attack targeting the blockchain-based bitcoin system, an emerging crypto asset. Because of the non-incentive compatibility of the bitcoin mining protocol, the attackers are able to collect unfair mining rewards b...
Building on an economic model of rational Bitcoin mining, we measured the carbon footprint of Bitcoin mining power consumption using feed-forward neural networks. We found associated carbon footprints of 2.77, 16.08 and 14.99 MtCO2e for 2017, 2018 an...
This study explores integrating Bitcoin mining with lignocellulosic biorefineries to create an additional revenue stream. Profits from mining can help offset internal costs, reduce business expenses, or lower consumer prices. Using sensitivity analys...
Bitcoin mining is a highly energy-intensive process whose economic sustainability depends on the complex interplay of electricity prices, Bitcoin prices, operating mode and technological efficiency. This paper analyses these relationships through sim...
The increasing penetration of intermittent renewable energy demands innovative solutions to maintain grid stability, resilience, and security in the body of smart cities. This paper presents a novel framework that redefines Bitcoin mining as a form o...
Despite the climate commitments made by countries in the Paris Climate Agreement adopted in 2015 and reinforced during COP 21 and with notably less success during COP 22, world carbon emissions increased in both 2021 and 2022. It is increasingly unli...
The May–September 2021 cryptocurrency-mining prohibition in the People’s Republic of China removed an industry that had become heavily concentrated in Chinese jurisdictions over the years preceding the ban. Using the full population of 97...
This paper studies the effect of quantum computers on Bitcoin mining. The shift in computational paradigm towards quantum computation allows the entire search space of the golden nonce to be queried at once by exploiting quantum superpositions and en...
In this paper, we present an analysis of the mining process of two popular assets, Bitcoin and gold. The analysis highlights that Bitcoin, more specifically its underlying technology, is a “safe haven” that allows facing the modern environmental chal...
False data injection (FDI) cyberattacks pose a growing threat to modern power distribution systems in smart cities by manipulating state-estimation processes and provoking covert voltage violations that traditional defense mechanisms fail to detect....
The environmental impact of Bitcoin mining has raised severe concerns considering the expected growth of 30% by 2030. This study aimed to develop a Life Cycle Assessment model to determine the carbon dioxide equivalent emissions associated with Bitco...
This paper investigates the relationship between the bitcoin price and the hashrate by disentangling the effects of the energy efficiency of the bitcoin mining equipment, bitcoin halving, and of structural breaks on the price dynamics. For this purpo...
The Bitcoin mining process is energy intensive, which can hamper the much-desired ecological balance. Given that the persistence of high levels of energy consumption of Bitcoin could have permanent policy implications, we examine the presence of long...
The purpose of this article was to attempt to shed light on the taxation of activities or actions related to cryptocurrencies. For this purpose, a small analysis was carried out on the nature, operation, and characteristics of cryptocurrencies. Subse...
Despite advances in biofuel production and biomass processing technologies, biorefineries still experience commercialization issues. When costs exceed revenues, their long-term economic sustainability is threatened. Although integrated biorefineries...
A blockchain is a distributed ledger forming a distributed consensus on a history of transactions, and is the underlying technology for the Bitcoin cryptocurrency. Its applications are far beyond the financial sector. The transaction verification pro...
While blockchain and distributed ledger technology offer immense potential for applications in transparency, security, efficiency, censorship resistance, and more, they have been criticized due to the energy-intensive nature of the proof of work cons...
The modern electric power-distribution grid is increasingly integrating various components, including distributed sources of renewable energy, electric vehicles (EVs), and Bitcoin-mining operations. This shift signals a transformation in energy manag...
The global transition to renewable energy requires hybrid solutions that address variability while delivering tangible co-benefits and verifiable mitigation outcomes. This study evaluates a novel small hydropower–photovoltaic (SHP–PV) hyb...
Carbon pricing is jurisdictional, while proof-of-work cryptocurrency mining is a highly mobile electricity load. We examine whether daily power-sector emissions display a cross-regional and distributional pattern consistent with short-run emissions d...
Bitcoin is the first cryptocurrency to participate in a network and receive compensation for online remittance and mining without any intervention from a third party, such as financial institutions. Bitcoin mining is done through proof of work (PoW)....
The article is devoted to the analysis of cryptocurrency as a new phenomenon in the modern global economic processes and legal institutions. The relevance of the study is predetermined by the very specifics of such a phenomenon as cryptocurrency cons...
Coinhive released its browser-based cryptocurrency mining code in September 2017, and vicious web page writers, called vicious miners hereafter, began to embed mining JavaScript code into their web pages, called mining pages hereafter. As a result, b...
Next to climate change on the list of challenges faced by humankind in today’s technological age is energy management. While “smart” ideas continue to gather momentum as some of the ways earmarked to combat the menace of a changing...
Recently, various methods to predict the future price of financial assets have emerged. One promising approach is to combine the historic price with sentiment scores derived via sentiment analysis techniques. In this article, we focus on predicting t...
Bitcoin, which has been used for 13 years, has a role in transactions and investments as a major cryptocurrency. However, as the number of users increases, Bitcoin faces difficulties, such as scalability for transaction throughput and energy-consumpt...
6 March 2024
Since 2012, researchers have explored various factors influencing Bitcoin prices. Up until the end of July 2023, more than 9100 research papers on cryptocurrencies were published and indexed in the Web of Science Clarivate platform. The objective of...
Cryptography and associated technologies have existed for a long time. This field is advancing at a remarkable speed. Since the inception of its initial application, blockchain has come a long way. Bitcoin is a cryptocurrency based on blockchain, als...
Energy consumption and cryptocurrency mining exert significant yet asymmetric pressures on global CO2 emissions, presenting complex challenges for climate policy design. While prior research has examined fossil fuel and digital asset markets in isola...
Since Bitcoin has frequently witnessed price fluctuations and high volatility, the factors influencing its returns and volatility is an important research subject. To accomplish this goal, we applied the Gets reduction method which has a good reputat...
This study examines the environmental implications of energy-intensive cryptocurrency mining activities within the broader sustainability debate surrounding blockchain technologies. Focusing specifically on Bitcoin’s proof-of-work–based m...
This study investigates the asymmetric impacts of Bitcoin prices on Bitcoin energy consumption. Two series are shown to be chaotic and non-linear using the BDS Independence test. To take into consideration this nonlinearity, we employed the QNARDL mo...
The integration of Bitcoin into corporate treasuries constitutes a critical strategic choice, motivated by its capacity to bolster liquidity and serve as an inflation hedge, while simultaneously being encumbered by pronounced financial volatility and...
This study conducts a bibliometric review of Bitcoin research in the Business and Economics domains, using VOSviewer to visualize network structures and Bidirectional Encoder Representations from Transformers Topic (BERTopic) to derive semantically c...
Bitcoin halving is a quadrennial event that halves mining rewards and is believed to influence cryptocurrency prices and cryptocurrency market dynamics. This study examines the effect of Bitcoin halving on Cryptocurrency Prices, with Government Regul...
Bitcoin is a digital currency based on a peer-to-peer payment system managed by an open source software and characterized by lower transaction costs, greater security and scalability than fiat money and no need of a central bank. Despite criticisms a...
This work deals with questions of enhancing the scalability and security of linear chain Bitcoin by introducing a D-BTC (Domino Bitcoin) protocol, supported by a simply connected two-dimensional structure. The paper seeks to answer the question: can...
This paper analyzes the connectedness among bitcoin, gold, and crude oil between 3 January 2017 and 31 December 2019. The paper’s motivation is based upon the idea that bitcoin can be similar to gold in terms of its hedging properties and can b...
We investigate any similarity and dependence based on the full distributions of cryptocurrency assets, stock indices and industry groups. We characterize full distributions with entropies to account for higher moments and non-Gaussianity of returns....
Proof-of-Work (PoW) cryptocurrency mining is conventionally characterised as an energy competition, yet this paper provides evidence that the primary competitive margin has shifted from electricity procurement to semiconductor acquisition. Using Bitc...
Blockchain, the underlying technology powering the Bitcoin cryptocurrency, is a distributed ledger that creates a distributed consensus on a history of transactions. Cryptocurrency transaction verification takes substantially longer than it does for...
Proof-of-Work (PoW) cryptocurrencies create electricity demand globally, but their carbon consequences depend on where the electricity is generated. This study presents CryptoCarbonApp, an open-source R Shiny business intelligence application that ex...
The Bitcoin network not only is vulnerable to cyber-attacks but currently represents the most frequently used cryptocurrency for concealing illicit activities. Typically, Bitcoin activity is monitored by decreasing anonymity of its entities using mac...
Published assessments of Bitcoin’s exposure to a cryptographically relevant quantum computer convert resource estimates into risk figures by substituting a point estimate of the key derivation time into an exponential tail. We show that this pr...
Blockchain is a peer-to-peer trustless network that keeps records of digital assets without any central authority. With the passage of time, the sustainability issue of blockchain is rising. This paper discusses two major sustainability issues of blo...
20 October 2023
Cryptocurrencies, like Bitcoin and Ethereum, have garnered global attention in recent years as digital alternatives to traditional fiat currencies. This paper explores the complex landscape of cryptocurrency adoption, consumer behavior, and perceptio...
The Nervos CKB (Common Knowledge Base) is a public permissionless blockchain designed for the Nervos ecosystem. The CKB consensus protocol is the key protocol of the Nervos CKB, which improves the limit of the consensus’s performance for Bitcoin. In...
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