Bitcoin Will Use 0.5% of World's Electricity by End of 2018, Finds Study


Economist Alex de Vries, whose Digiconomist blog hosts the Bitcoin Energy Consumption Index, quantified bitcoin’s energy requirements in a paper published in the scientific journal Joule on 16 May.

The electricity demands comes from the computing power required to mine bitcoin – the process of generating new units of the cryptocurrency by solving complex mathematical puzzles. These puzzles are designed to get more complicated as bitcoin’s network grows, thus requiring even greater computing power.

It is the first time estimates of bitcoin’s energy demands have been peer-reviewed and adds considerable weight to the debate of how to address the environmental impact of the world’s most valuable cryptocurrency.


Fuck cryptocurrency like this now and forever.