Economist Alex de Vries, who published an article on “Bitcoin’s Growing Energy Problem,” yesterday, May 16, in scientific journal Joule, told the Independent that Bitcoin (BTC) mining will use 0.5 percent of the world’s energy by 2018.
IBM announced a partnership with Veridium Labs to tokenize carbon credits that will allow companies to track their carbon footprint with blockchain yesterday, May 15.
Pollution from power needed for cryptocurrency mining is becoming a growing concern. As cryptocurrency prices surge and crypto miners seek more computing power, renewable energy is turned to as the preferred source of power.
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…
It is generally believed that mining bitcoin wastes energy and could possibly become an environmental disaster waiting to happen when compared to the traditional banking system. However, with the emergence of Lightening and renewable…
Massive Bitcoin mining operations has led to blackouts, due to the high demand for electricity.