Price Now

${{ }}


${{ data.btc.short.price }}


${{ data.btc.long.price }}

What is Real Energy Consumption for Bitcoin Mining

2018-06-19 08:46:23

#Bitcoin #Mining
What is Real Energy Consumption for Bitcoin Mining

By the results of the Coinshares research, Bitcoin mining consumes 35tW around the world. Coinshares is the company that provides research products in the crypto industry. This is twice as less as was previously disclosed by Alex de Vries, the developer of BECI (Bitcoin Energy Consumption Index).

The report states that network hashrate increases by 300% annually, chip efficiency increases by 80%, while chip cost decreases by 50% in average. It is also noted that Bitcoin mining mainly uses cheap renewable energy sources (hydroelectric plants etc.).

CoinForecast News

Please enter your email

Latest News

Ripple (XRP) may Become the Official Cryptocurrency of of the Tokyo Olympics 2020

The petition to make Ripple (XRP) the official cryptocurrency of the next Summer Olympics already raised 9600 votes. Ken Takahashi, the author of t...

  2 weeks ago

Cryptocurrency Startup Eidoo Announced Stablecoin Tied to Gold

We wrote about the STASIS EURS stablecoin tied to Euro a few days ago. Another startup - Swiss Eidoo announced its own stablecoin - Ekon, tied to gol...

  1 month ago

Forbes: Big Investors Believe in Crypto Industry

Despite the significant drop of the cryptocurrency market this year, institutional investors believe that digital currencies are here to stay. Some tr...

  1 month ago

Bitcoin Price Already Hit the Bottom?

Galaxy Digital CEO Mike Novogratz expressed an opinion that Bitcoin price already hit the bottom. He makes reference to Bloomberg's Galaxy Crypto Ind...

  1 month ago

Overview of the STASIS EURS Crypto Currency

Overview STASIS EURS is a new crypto currency positioned as the EURO currency tokenized on a blockchain and having the same value and exchange rate...

  1 month ago