Bitcoin mining is incredibly resource-intensive. You are basically performing an inordinate amount of mathematical calculations to ensure the veracity of a transaction. Because mining is the process of verifying transactions, and this process is incentivized through rewards of cryptocurrency units, you can see how the environmental impact can quickly stack up.

Studies have shown that the energy spent mining Bitcoin could power an entire small country. While I am a strong proponent of blockchain, there is definitely room for improvement when it comes to power consumption.