Price Now

${{ data.btc.now.price }}

Short

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

Long

${{ 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

Five little-known interesting facts about Bitcoin

Comparing to the first couple of years since Bitcoin appeared, now it is more options to purchase BTC. The only disadvantage of the current situation ...

  2 months ago

Bitcoin is 83000 percent more profitable than gold

A popular economist and passionate proponent of gold Peter Schiff published an interesting tweet saying that Bitcoin chart is "horrible". He stated th...

  2 months ago

Bloomberg: rise of Bitcoin price as result of algorithmic trading

The recent price increase on the cryptocurrency market may be related to algorithmic trade says Bloomberg. Special software (robots) is used for algo...

  8 months ago

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...

  1 year 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 year ago