Can you love Bitcoin and the environment at the same time? The world’s dominant cryptocurrency depends on so-called miners whose high-powered computers run day and night to process transactions. Its energy consumption is ballooning so fast that it is alarming environmentalists, governments and other big energy users. China has banned Bitcoin mining entirely and billionaire […]
Bitcoin’s green haven is running out of surplus electricity
The Nordic region is losing its edge in green Bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Elon Musk to mom-and-pop investors pile in. Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. China, where most coins […]
Bitcoin’s green haven is running out of energy
Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. The Nordic region is losing its edge in green Bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Elon Musk to mom-and-pop investors pile in. Iceland, Sweden and Norway […]
Bitcoin’s energy consumption has jumped 80% since the beginning of 2020, according to a study from Cambridge
Bitcoin now uses 80% more energy than it did at the beginning of 2020. Bitcoin uses 128 terawatt-hours annually, according to estimates from Cambridge. The cryptocurrency is responsible for 0.59% of total worldwide energy consumption. Bitcoin’s energy consumption has jumped 80% since the beginning of 2020 amid a meteoric rise for the digital currency. According to Cambridge’s […]
