Bitcoin’s Energy Use Compared To Other Major Industries
The data shows Bitcoin’s energy use would represent just a rounding error in the construction, transportation or healthcare industries.As a civil engineer still working in the construction industry full-time, the burgeoning Bitcoin ecosystem is not an environment where I can easily make any significant impact in terms of technological development or coding. That said, there are several civil engineering skills that transfer over to the Bitcoin space, mainly, environmental analysis and strong knowledge of the built environment and traditional commodity mining, which is where I initially....
Related News
A new report shows that the banking system consumes more than twice the amount of energy that bitcoin does. The authors analyzed bitcoin’s energy usage and compared it to the banking and gold industries. Banking System Consumes Much More Energy Than Bitcoin Galaxy Digital published a report last week entitled “On Bitcoin’s Energy Consumption: A Quantitative Approach to a Subjective Question.” The authors described, “This report took a quantitative approach, comparing Bitcoin’s energy usage to that of other industries.” Within the report was an....
Data shows that the Bitcoin mining sector has become the most sustainably-powered global industry, as more than 50% of it uses clean energy. Majority Of Bitcoin Mining Industry Uses Clean Energy Sources One of the main criticisms against BTC is that the sector uses a considerable amount of energy and, thus, releases a notable amount of emissions. Things appear to be developing for the better and quite fast. In a new post on X, the co-founder of CH4Capital, Daniel Batten, has shared a few charts that look into the sustainability of the BTC network and how it compares with other sectors. The....
Bitcoin’s unique energy use incentives, ability to store stranded energy and more make it the future of our energy consumption as a planet.
Stranded natural gas operations could be the next major avenue of Bitcoin’s entry into the global energy production industry. The post How Bitcoin Shakes The Energy Industry appeared first on Bitcoin Magazine.
While detractors often cite Bitcoin’s energy consumption as a negative, this doesn’t automatically imply environmental impact.