MINING BITCOIN

Bitcoin mining is predicted to use 0.5% of total global electricity consumption by the end of this year. Although the numbers look a little bit, the cost is still huge and can make miners no longer benefit from the activities of dredging one type of cryptocurrency.

Alex de Vries, the blockchain expert, the technology behind the circulation of digital currencies, reveals these predictions. Based on research. the energy consumption of Bitcoin mining has now reached 2.55 gigawatts, almost equivalent to Ireland.

While at the end of 2018,
Alex de Vries reckoned that the figure would jump to 7.67 gigawatts, lagging just a bit from Austria. According to him, with the increasingly skyrocketing needs of miners Bitcoin will be electricity, then they can no longer enjoy the benefits of the process.