Climate Changed
Bitcoin’s Power Needs May Be Overblown
- Cryptocurrency mining may never dominate world’s energy needs
- Credit Suisse sees limited upside for utility investors
This article is for subscribers only.
There’s a growing debate over how much power will be sucked up by the world’s growing ranks of cryptocurrency miners.
Last week, Morgan Stanley analysts said miners of Bitcoin could use as much as 140 terawatt-hours of electricity in 2018. That’s nearly 1 percent of global demand and enough to seize the limelight from electric cars as the explosive new source of power consumption.