Cryptocurrency Q&A
How much electricity does bitcoin mining use in 2023?
How much electricity does bitcoin mining use in 2023?
Maria
Fri Jul 05 2024
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7 answers
1527
As a keen observer of the cryptocurrency market, I'm curious to understand the environmental impact of bitcoin mining. Given the constant advances in mining technology and the fluctuating price of bitcoin, how much electricity does bitcoin mining utilize in 2023? I'm particularly interested in knowing if there have been any significant changes in power consumption compared to previous years. Could you elaborate on the factors that contribute to this consumption and what measures, if any, are being taken to reduce its environmental footprint?
7 answers
BlockchainBrawler
Sun Jul 07 2024
The International Energy Agency has made a significant estimation regarding global electricity consumption in 2023.
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Daniela
Sun Jul 07 2024
According to their calculations, the total global electricity consumption in 2023 stands at approximately 27,400 TWh.
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SamuraiWarriorSoul
Sun Jul 07 2024
This immense amount of electricity is utilized for various purposes, ranging from residential use to industrial operations.
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CherryBlossomPetal
Sat Jul 06 2024
In the context of cryptocurrency mining, particularly Bitcoin mining, the energy consumption is a significant factor.
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Silvia
Sat Jul 06 2024
The CBECI (Cryptocurrency Benchmarking Estimation and Classification Initiative) has conducted an assessment to quantify the electricity demand for Bitcoin mining.
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