Cryptocurrency Q&A
How much power does bitcoin use?
How much power does bitcoin use?
CharmedFantasy
Fri Jul 05 2024
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7 answers
2214
I've often heard concerns about the environmental impact of cryptocurrency mining. Specifically, with Bitcoin being the largest and most popular cryptocurrency, how much energy does it consume? Are there estimates of the electricity used for Bitcoin mining operations globally? Does the energy usage vary significantly depending on the mining method or the hardware used? And given the environmental concerns, are there any initiatives being taken by the Bitcoin community to reduce its carbon footprint or transition to more sustainable energy sources?
7 answers
SsangyongSpirited
Sun Jul 07 2024
Bitcoin's energy consumption is a topic of significant interest.
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Maria
Sun Jul 07 2024
Alex de Vries, a noted bitcoin specialist from PwC, has conducted a detailed analysis of the global power usage of bitcoin servers.
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Martina
Sun Jul 07 2024
His estimation reveals that the minimum global power consumption for the servers supporting bitcoin's operation stands at 2.55 gigawatts (GW).
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Maria
Sat Jul 06 2024
This translates to an annual energy consumption of 22 terawatt-hours (TWh), a staggering figure.
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MoonlitCharm
Sat Jul 06 2024
To put this into perspective, the energy consumption of bitcoin's servers is almost equivalent to the entire energy usage of Ireland.
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