New Bitcoin Mining Study Misses a Few Key Points

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There have been numerous discussions on how much electricity Bitcoin mining really uses. The studies on this topic paint very different pictures, although they share a few similarities. The most recent study claims that Bitcoin mining will consume 0.5% of the world’s electricity by year’s end. That’s a somewhat worrisome statistic, albeit one that isn’t based on all the facts. Bitcoin Mining is a Power-hungry Industry No one can deny that there is vast electricity usage associated with mining Bitcoin. This is not just the case with Bitcoin, though, as it applies to virtually all cryptocurrencies these days. Anything that requires hefty computational work

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