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Electricity consumption of the bitcoin network since 2016 (annualized). The upper and lower bounds are based on worst-case and best-case scenario assumptions, respectively. The red trace indicates an intermediate best-guess estimate. Bitcoin mining is a highly electricity-intensive proof-of-work process.
The EIA said it plans to launch a survey next week of select bitcoin miners, which will be required to respond with their energy use details, as part of an emergency data collection request ...
The council's survey focused on the crypto mining industry's electricity consumption and sustainable power mix.
Bitmain's first product was the Antminer S1 which is an ASIC bitcoin miner making 180 gigahashes per second (GH/s) while using 80–200 watts of power. [8] Bitmain as of 2018 had 11 mining farms operating in China. [7] Bitmain was involved in the 2018 Bitcoin Cash split, siding with Bitcoin Cash ABC alongside Roger Ver. [9]
A bitcoin mining company powered by 95% zero-carbon energy is transforming itself into a major AI infrastructure player just as tech giants scramble for sustainable computing power.
Studies have estimated the total energy consumption of cryptocurrency mining. [28] The PoW mechanism requires a vast amount of computing resources, which consume a significant amount of electricity. 2018 estimates from the University of Cambridge equate bitcoin's energy consumption to that of Switzerland. [6]
As of 2022, a non-peer-reviewed study by the Cambridge Centre for Alternative Finance (CCAF) estimated that bitcoin mining represented 0.4% of global electricity consumption. [80] Another 2022 non-peer-reviewed commentary published in Joule estimated that bitcoin mining was responsible for 0.2% of world greenhouse gas emissions. [81]
The EIA has agreed to voluntarily suspend its emergency survey of the energy used by 82 Bitcoin mining ... before a proposed deadline for the firm to submit details on its power consumption.