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❕NEWS How much electricity does Bitcoin mining use?

aryan4

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According to Digiconomist's Bitcoin energy consumption audience, mining currently consumes 77.78 terawatt hours per year. This is on par with the total energy consumption of countries such as the Netherlands and the Czech Republic.
What are your views on the energy consumed? Do you think it's too high?
 
It should not be a problem for countries like Iceland.

The consumption of power over there would be less compared to countries in the South.
Yeah i heard of that too but i think they said they make use of snow for power generation and don't really know how they manage to do that , its a suprise and using snow for power generation would make it cheap
 
It should not be a problem for countries like Iceland.

The consumption of power over there would be less compared to countries in the South.
Less indeed but then the high electricity demand for mining will make the difference to be small ,however they will be better compared to people in other countries
 
Ok, I don't know about any other country but in India btc mining is not valued at all, because of the electricity charge here is very high. So, the profits are dome times in peanuts or equal as as the investment.
According to Digiconomist's Bitcoin energy consumption audience, mining currently consumes 77.78 terawatt hours per year. This is on par with the total energy consumption of countries such as the Netherlands and the Czech Republic.
What are your views on the energy consumed? Do you think it's too high?
 
Its actually too high and especially for tier 4 countries where prices are not fixed like European countries but continue to rise with the increase in consumption of next billable unit length
 
Are there countries where it's not that high?
If you mean the electricity bill, it depends on the country as each country has its own rate of electricity as in some countries electricity is alot more because they are not using much electricity so they have alot of spare than other countries
 
By far such electricity consumption is to high and not sustainable hence causing billions of dollars to go towards electricity generation and maintenance of such infrastructure. When all these processes come into play you realize that this does not sustain the environment.

It should not be a problem for countries like Iceland.

The consumption of power over there would be less compared to countries in the South.
Yes i have heard that cool places does make it easy to generate electricity but am keen to learn how that is possible. In most instances it is over looked as to how such cool [places are more better placed than hot places when siting the the environment for electricity generation.
 
Still depends though, areas that are cold like iceland is more ideal for bitcoin mining as you will kindof use less power because you wouldn't need cooling. Though overall sure it still uses alot, that's why green friendly coins are being created for that reason
 
According to Digiconomist's Bitcoin energy consumption audience, mining currently consumes 77.78 terawatt hours per year. This is on par with the total energy consumption of countries such as the Netherlands and the Czech Republic.
What are your views on the energy consumed? Do you think it's too high?
Actually bitcoin mining is a work which will consume more electricity . But GPU and CPU management need higher consumbtion .
 
always In negative unless you have free electricity which is quite rare such days to be honest actually in my opinion and only exists in dreams .
 
This is my first time I will ever being in discussion of electricity energy consumption by mining. I don't really know that Bitcoin mining is consuming too much electricity power.
 
There are different versions of article on the argument of the electricity consumption in bitcoin mining . All the assumptions are not true as a recent research cited that the banks uses more energy than bitcoin mining.
 
The energy consumption when it comes to mining has been very high . This is why most miners are turning towards solar energy usage .
Bitcoin mining is mainly for those countries where the electric cost is very low, otherwise, miners now need to adopt solar energy to mine crypto. And things are updating and the machine also needs to be updated.
 
Bitcoin mining is mainly for those countries where the electric cost is very low, otherwise, miners now need to adopt solar energy to mine crypto. And things are updating and the machine also needs to be updated.
As the mining keep going on , the electricity consumption keeps increasing to an extent that it will no longer be safer for people to do
 
As the mining keep going on , the electricity consumption keeps increasing to an extent that it will no longer be safer for people to do
You are right, I hope the researchers don't relax in the quest of renewable energy sources as alternative to cryptocurrencies mining activities.
 
There are speculations and counter speculations that the electricity requirements of bitcoin is huge and not huge. For me, I believe that the figure of the power usage by bitcoin mining is exergerated.
 
You are right, I hope the researchers don't relax in the quest of renewable energy sources as alternative to cryptocurrencies mining activities.
Already there is renewable and more cleaner energy for cryptocurrency Mining and this is why government of countries are comfortable with it
 
Already there is renewable and more cleaner energy for cryptocurrency Mining and this is why government of countries are comfortable with it
So the cost of money electricity is a bit cheaper and I don't think people will not complain of mining Bitcoin to be releasing unwanted or toxic gases to the environment anymore.
 
For sure. Energy consumption is very high when it comes to mining crypto. Another thing is that you must keep your miners/rigs cool, so you need a lot of fans too. One also needs to maintain software. Too much effort and too much energy/capital. Not profitable for me!
 
So the cost of money electricity is a bit cheaper and I don't think people will not complain of mining Bitcoin to be releasing unwanted or toxic gases to the environment anymore.
The cost of Mining is basically the issue with cryptocurrency after the energy consumption issue because Mining consume electricity very well
 

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