The global production of Bitcoin already consumes more electricity than 159 countries -


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Monday, 27 November 2017

The global production of Bitcoin already consumes more electricity than 159 countries

With a value that only increases every day ( at the moment the BTC / USD change reaches more than 9000 dollars per bitcoin ), it is normal that many people are interested in mining this cryptocurrency. But this "passion" for bitcoin is giving rise to something that many would not have expected.

The expansion of the Bitcoin production is giving rise to an exponential increase in the electricity consumption used by the machines in charge of mining bitcoin . With a purely electronic method of creation and operation based on the processing capacity of countless computers around the world, the Power Compare portal estimates that the generation processes of this crypto-node are already responsible for a consumption with an annual energy volume greater than from 159 countries. The most striking thing is that among these 159 countries 20 are European.

Ireland, Croatia, Serbia, Slovakia and Iceland are just five names of a lot that covers states on all continents. In Africa, for example, only South Africa, Egypt and Algeria are not below the rate of electricity consumption generated by the manufacture of cryptocurrencies.

According to the company responsible for the study, Bitcoin's annual electricity consumption already exceeds 29 TWh, equivalent to 0.13% of the energy needs of the entire planet Earth. The value, nevertheless, observes a growing tendency inclined, with an increase of 30% in the production that is registered only in the last 30 days. If the growth is consistent until October next year, the consumption will surpass the registries of countries like Portugal, Spain and the United Kingdom.

And what is more important, according to Power Compare, this consumption is equivalent to an annual bill of 1,500 million dollars.

If you are interested in inquiring a little more about this study, you just have to follow this link to consult the study in its entirety.

Greetings from the depths of the bytes.

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