At this point, mining Bitcoin requires such intensive, specific hardware that the only way for most people to get in on the crypto game is to simply purchase the coin via an exchange. But that doesn’t mean mining has slowed down. Rather, the opposite has been happening, giving environmentalists (and anyone but the most adamant cryptobros) cause for concern.
Between cooling fans, manufacturing hardware, and the outrageous, ever-rising energy costs needed to operate a bitcoin mining rig, the world’s Bitcoin network is expected to use as much as 7.67 gigawatts of power by the end of 2018, according to new research and models. That’s one two-hundredth of all the electricity used on the planet. And that’s terrible.
Continue reading… “Bitcoin is going to use as much electricity as Austria by the year’s end”