The emissions come mostly from the mining necessary to secure the transactions, so it's blended across where the mining is happening. Much of it is done in China on coal power.
The mining-power relationship essentially creates a price arbitrage opportunity between electricity prices and Bitcoin mining fees. This is a very bad thing for the global economy as it ties all other uses of electricity to the Bitcoin mining fees in a very direct way. I can't think of another relationship this direct to energy prices, it could be catastrophic for entire industries. Oh and also it's emitting as much emissions as Argentina at the moment.
A friend of mine called Bitcoin a candidate for The Great Filter, and I'm inclined to agree.