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Nobody Knows How Much Energy Bitcoin Is Using

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Power

The Almighty Buck






Posted
by

msmash

on Wednesday May 16, 2018 @01:20PM

from the closer-look dept.

dmoberhaus writes: A new report published in ‘Joule’ today claims Bitcoin may use up to 0.5% of the world’s energy by the end of this year. We often hear about how bad Bitcoin is for the environment — it already uses the same amount of energy as the country of Ireland — but these numbers are usually just the /minimum/ amount of energy the network must be using. The actual amount of energy used by the Bitcoin network is likely substantially higher, but getting an accurate reading on that energy level is hard. The only researcher trying to quantify Bitcoin’s energy use spoke to Motherboard about opening Bitcoin’s ‘black box.’

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