Sunday, May 16, 2021

Electricity Consumption used to mine bitcoin high

 Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests.

"Mining" for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.

Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year - and is unlikely to fall unless the value of the currency slumps.

But the rising price offers even more incentive to Bitcoin miners to run more and more machines.

Continue Reading: https://www.bbc.com/news/technology-56012952