Bitcoin not only tops the headlines of a constant upward trajectory, but also stands out for its exceptional energy consumption. According to freebitcoin, in just one month, the cost of consuming bitcoins increased by 30 percent. Numerous prominent news portals highlighted the negative consequences of an increase in bitcoin mining speed.
High power consumption
Bitcoin mining requires a high computing power, which is almost 29.05 TWh (terawatts, hours) per year, which exceeds consumption in 159 selected countries in the world and represents approximately 0.13 percent of total global energy consumption with 1 btc to usd converter. The upward bitcoin price chart is giving way to the increase in energy consumption, which is used to extract more bitcoins. It is predicted that if the bitcoin mining speed grows at the same rate, by mid-2020 it will completely consume all the global energy.
Bitcoin, a much better option:
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The benefits of cryptocurrency are now widespread throughout the world, and the benefits of this are greatly enjoyed. Starting with Bitcoin, cryptocurrency options are now entering new areas where much better options have appeared, with Bitcoin as the leader among them.