A new analysis by the New York Times revealed the extent of the high energy consumption mining Bitcoin entails.
The process of mining Bitcoin, in which complex math algorithms must be solved to create and award new Bitcoin, is a highly energy-intensive process. Each year, mining Bitcoin is responsible for the consumption of about 91 terawatt-hours of electricity, which is more than the entire annual electricity use of Finland.
This constitutes about 0.5 percent total global electricity…
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