Bitcoin Consuming Less Electricity

Bitcoin is getting more eco-friendly.
Despite more computing power being dedicated to bitcoin mining, less electricity is required to fuel it. Data from Statista shows that bitcoin mining energy consumption was 69.79 terawatt hours per year as of July 2019. In July 2018, it was 71.12 terawatts. And the current hash rate (the measure of computing power it takes to process bitcoin transactions) is almost 60% higher than it was back then.
There are two net positives here. One is that bitcoin’s hash rate keeps climbing. As we’ve written before, that’s a sign that bitcoin adoption is going strong and the network …read more