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  Bitcoin Armchair-Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa

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Bitcoin Armchair-Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa Vide
PostSubject: Bitcoin Armchair-Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa    Bitcoin Armchair-Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa Icon_minitimeSat Nov 25, 2017 1:02 am
Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst.

Bitcoin Armchair-Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa Bitcoin-mining-vs-world

However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to “mine” more Bitcoins.  

According to Digiconomist’s Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin’s current estimated annual electricity consumption stands at 29.05TWh.

That’s the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries (as you can see from the map above). More than Ireland or Nigeria.

https://powercompare.co.uk/bitcoin/

Bitcoin Armchair-Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa ?u=http%3A%2F%2Fwww.lovethispic.com%2Fuploaded_images%2F88995-Ice-Candle
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