After a rough-and-tumble week, most major cryptocurrencies are inching closer towards green territory. At press time, entities like Bitcoin, Ethereum, Ripple, and Litecoin all experienced small, yet noticeable hikes in their prices, while others, such as Bitcoin Cash, are showing even more noticeable gains over the past 24 hours. Bitcoin is sitting just beyond $8,362 – roughly $262 higher than where it was during our previous price article.
New reports about Bitcoin mining have emerged, and suggest that global operations for extracting new coins now require as much electricity as the entire nation of Ireland. The Emerald Isle’s population is considerably larger than that of Iceland, which a few months ago, was identified as the first country to outdo itself via Bitcoin mining.
Cryptocurrency mining ultimately required more energy than what was needed to power all of Iceland’s residences. Its newfound status with Ireland’s electricity use shows just how powerful, and even common, Bitcoin mining has become.
In addition, Bitcoin mining may use as much energy as Austria by the end of 2018. At press time, global operations require about 3.1 gigawatts of power.
The number of gigawatts necessary to power all of Austria is roughly 8.2, suggesting Bitcoin mining energy may possibly double by the time 2019 rolls along. It seems everyone is eager to get their hands on new coins. Read more from cryptoslate.com…
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