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The Cost of Mining and Maintaining Cryptocurrency

image credit: Expensivity
Brian Wallace's picture
Founder NowSourcing

Brian Wallace is the Founder and President of NowSourcing, an industry leading content marketing agency that makes the world's ideas simple, visual, and influential. Brian has been named a Google...

  • Member since 2018
  • 5 items added with 4,569 views
  • Jun 14, 2021
  • 1328 views

Investing in Bitcoin and watching the fluctuations may be all the rage these days, but people don't spend enough time looking at the underlying implications of how much energy is needed to mine and maintain cryptocurrency.  In 2017 alone, the estimated power required to run cryptocurrency was more than all the power used by the Republic of Ireland.  By 2018, mining accounted for 1% of the world's energy consumption.  Last year, Bitcoin consumed 120 gigawatts per second - nearly 50,000 wind turbines worth of energy.  Learn more facts about the Bitcoin bull run.

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