On the margin of the world-saving crypto frenzy: bitcoin consumes more electricity than the whole of Argentina


Bitcoin mining consumes an enormous amount of electricity, and transactions require significant computing capacity. Cambridge people say it will use 121.36 terawatt hours in a year, and it will certainly only increase in the next period as demand for cryptocurrencies grows, writes BBC.

Critics say Tesla’s investment in bitcoin will also significantly destroy the company’s image of sustainability. The company announced last week that it would buy one and a half billion dollars worth of bitcoin and accept it as a means of payment for cars. The price of bitcoin has hit another historic peak today, which could encourage more and more people to mining.

Research in Cambridge has also shown that as price increases, so does energy consumption.

Bitcoin mining uses more electricity per year than Argentina’s 45 million and is close to the annual electricity consumption of Norway, Ukraine and Sweden.

Cover image: Getty Images


Source: Portfolio.hu – Üzlet by www.portfolio.hu.

*The article has been translated based on the content of Portfolio.hu – Üzlet by www.portfolio.hu. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!