Wednesday, 7 November 2018

Mining bitcoin uses more energy than mining gold

Mining bitcoin uses more energy than mining gold

For the past few years, cryptocurrency networks like bitcoin have gained a reputation as energy hogs, eliciting headlines comparing their energy consumption to that of mid-sized countries. Now, a new analysis shows mining bitcoin uses more energy, dollar for dollar, than mining gold. “It was definitely surprising,” environmental engineer Max Krause said of his findings, published today in the journal Nature Sustainability.

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