Last week, there was a theft of about 600 cryptocurrency miners from data centers in Iceland, which the Icelandic police tagged the biggest series of thefts ever in the North Atlantic island nation. This had led to a series of arrests as…
Bitcoin mining consume lots of energy, up to 140 terawatt-hours of electricity, to perform the complex calculations needed for mining. Increasing demand for bitcoin has led to increasing global mining energy consumption. However, prime…
Bitcoin mining consume lots of energy, and the rising bitcoin prices keep enticing miners to add more hashing power, resulting in a massive surge in per-transaction electricity demand, something higher than 140 terawatt-hours of…
Presently, about 75 percent of the total world’s bitcoin mining capacity is in China, and with the current China’s top power price, miners can break-even even if Bitcoin’s price falls below 50 percent to $6,925.
China is taking early action by putting restrictions to prevent a potential energy crisis that might arise due to high power usage by Bitcoin miners.