Cryptocurrencies
Bitcoin Power Consumption Jumped 66-Fold Since 2015, Citi Says
- Annualized consumption likely reached 143 terawatt-hours
- Bitcoin mining could soon face more regulatory scrutiny
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Bitcoin mining is consuming 66 times more electricity than it did back in late 2015, and the carbon emissions associated with it will likely face increasing scrutiny, according to a Citigroup Inc. report.
As of mid-April, global power demand by the Bitcoin network probably reached an annualized 143 terawatt-hours, about 4% higher than Argentina’s total electricity generation in 2019, the report said, citing numbers from the Cambridge University Center for Alternative Finance.