News and Analytics

​Power consumption during mining is skyrocketing

Oct 20, 2022
​Power consumption during mining is skyrocketing
0

The Bitcoin Mining Council, which brings together companies from the mining and blockchain technologies industry, has published energy consumption data for the last 3 months. According to the report, energy consumption during mining has increased by 41%. This is approximately 0.16% of all world energy. For analytics, data from 50 large companies that are engaged in the production of cryptocurrencies were used.

Bitcoin mining results in 0.1% of global CO2 emissions. This figure is within acceptable limits. It is noted that network security has increased by 73%.

Experts note that a further increase in power consumption during mining may attract the attention of regulators. Therefore, it is necessary to pay attention to ways to reduce energy consumption and improve the environmental friendliness of the entire industry.

Previously, news appeared that, in the United States, the prerequisites were for the authorities to ban mining because of its negative impact on the environment. Miners were also asked to collaborate with agencies that would monitor performance during mining.

Comments

Latest news

Crypto trader sees best 'altseason' since 2017 as Bitcoin price cools

Crypto trader sees best 'altseason' since 2017 as Bitcoin price cools

Bitcoin and altcoins are projected to reenter bullish upside on longer timeframes, with the signs becoming clear despite consolidatory BTC price action.
Io.net responds to GPU metadata attack

Io.net responds to GPU metadata attack

The founder of Io.net will host a livestream on April 28 to demonstrate live cluster creation and rest the fear, uncertainty and doubt.
DTCC Announces Changes to Collateral Allocation for Bitcoin-Linked ETFs

DTCC Announces Changes to Collateral Allocation for Bitcoin-Linked ETFs

The Depository Trust and Clearing Corporation (DTCC) will no longer allocate collateral or extend loans against ETFs with Bitcoin and cryptocurrencies exposure, impacting financial stability and credi
The Market’s Compass Crypto Sweet Sixteen Study

The Market’s Compass Crypto Sweet Sixteen Study

Welcome to this week’s publication of the Market’s Compass Crypto Sweet Sixteen Study #135. The Study tracks the technical condition of sixteen of the larger market cap cryptocurrencies. E
Show more

Latest Dapp Articles

Show more

You may also like