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Bitcoin to use 0.5% of world's electricity by end of 2018
By Thom Holwerda on 2018-05-17 22:59:17

The bitcoin network is run by miners, computers that maintain the shared transaction ledger called the blockchain. A new study estimates that this process consumes at least 2.6GW of power - almost as much electric power as Ireland consumes. This figure could rise to 7.7GW before the end of 2018 - accounting for almost half a percent of the world's electricity consumption.

Bitcoin is - quite literally - destroying our environment. It's erasing the meagre progress we've made on reducing our overal energy consumption, for a glorified Tulipmania.

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