The amount of energy for bitcoin mining has exceeded the consumption of electricity in several countries

Scientists from the United States presented a study that speaks of the multiple growth of energy for mining cryptocurrency. This volume already exceeds the annual energy consumption of several countries.

The researchers explained that Bitcoin mining poses a threat on the road to “zero emissions.” In their opinion, states should regulate mining to reduce their carbon footprint.

Scientists noted that previously, cryptocurrency could be mined even on an inexpensive computer. However, the more cryptocurrency is mined, the more complex the algorithms that devices need to solve become. This means that mining requires a lot of power.

“The amount of electricity that is currently being used to mine bitcoins is already greater than the amount that is used by entire countries – for example, Ireland. We are talking about a few terawatts, tens of terawatts per year, which are used only to mine bitcoin, ”said Benjamin Jones, professor of economics at the University of New Mexico.

Eco-activists have already pointed out that a compromise needs to be found between cryptocurrency mining and environmental impact. At the same time, the creators of the cryptocurrency Etherium, the second most popular cryptocurrency, promised to change the algorithm of the digital currency to make it more environmentally friendly.

“Cryptocurrency mining can be a huge waste of resources, not to mention pollution and carbon dioxide emissions. Already, there are consumers who do not have enough electricity, it is spent on the production of cryptocurrency, ”- noted in Etherium.

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Alexandr Ivanov earned his Licentiate Engineer in Systems and Computer Engineering from the Free International University of Moldova. Since 2013, Alexandr has been working as a freelance web programmer.
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Alexandr Ivanov

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