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.

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 will need a lot of electricity. Supercomputers are no different in this regard.

Even so, Bitcoin mining attracts a lot of negative attention because of its electricity requirements. A new study by a Dutch specialist claims that the Bitcoin mining industry will consume as much as 0.5% of the world’s electricity by late 2018. Read more from…

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