Peer-reviewed, yet still bad science. It is unfortunate to see such research published. Their schematic graphic shows they likely never spoke to a Bitcoin miner. They assume cooling towers (open-loop) for everyone. In reality, many miners do not use weather cooling; if they do, they usually use closed-loop cooling with much less evaporation. In other words, their water footprint is way off. And don't let me get started on the data; it is outdated (from 2023). For instance, they mention Kazhakstan in the abstract because of its heavy reliance on coal. In their estimations, it makes up 13% of total hashrate, while in reality, today, it is much lower and closer to 3%. Neither water use, land use, nor greenhouse gas emissions paint an accurate nor up-to-date picture of the Bitcoin network.