Bitcoin, the world's largest cryptocurrency, currently consumes an estimated 150 terawatt-hours of electricity annually.
It's obviously bad if using non-renewables, where the negative externalities are subsidized, but since it's a modulatable load with a desire for cheap electricity it could be considered an accelerator once renewables cross over to be cheaper than non-renewable options, which they have in many locations.
Does anyone estimate the mix of energy used to generate that electricity used for bitcoin over time to see if there's a trend? Or even the countries they locate in which could be used as a proxy?
Quick Google returns this:
> Currently, 57% of the energy used for crypto mining comes from renewable sources (hydro, wind, solar, nuclear, geothermal and carbon generation with carbon offsets as defined by the Bitcoin Mining Council Q3 2021 Report).4 Apr 2022
https://www.rolandberger.com/en/Insights/Publications/How-cr...
And more recent reports suggest minor uptick:
https://bitcoinminingcouncil.com/bitcoin-mining-electricity-...
So, better than it could be, but not perfect.
In Europe? No.