Etiqueta: Energy

Bitcoin production will consume as much electricity as Holland

By Moris Beracha.- The entire network for bitcoin mining requires to be running constantly, leading to a large consumption of resources. The Joule magazine cited a research estimating that by the end of 2018, the mining of cryptocurrencies will account for 0.5% of the total world electricity production, which would be equivalent to the electricity ...

High electricity usage is essential for Bitcoin mining

Por Moris Beracha.- Getting bitcoins requires “mining”. This action does not involve a physical digging, since bitcoins are digital. However, it consumes more electricity. According to figures from Morgan Stanley and Alex de Vries, an economist who tracks the use of energy in the industry, the computer power needed to create each digital token consumes ...