Specialized chips are threatening to take over cryptocurrencies, and they look unstoppable

Bitcoin's burgeoning electricity demands have attracted almost as much attention as the cryptocurrency's wildly fluctuating value. But estimating exactly how much electricity the Bitcoin network uses, necessary for understanding its impact and implementing policy, remains a challenge. In the first rigorously peer-reviewed article quantifying Bitcoin's energy requirements, a Commentary appearing May 16 in the journal Joule, financial economist and blockchain specialist Alex de Vries uses a new methodology to pinpoint where Bitcoin's electric energy consumption is headed and how soon it might get there.

Specialized chips are threatening to take over cryptocurrencies, and they look unstoppable

The Chinese firm Bitmain dominates the market for tailor-made mining hardware and shows no sign of slowing down.

Thu 17 May 18 from MIT Technology Review

Bitcoin Will Soon Use More Energy Than Austria

Wed 16 May 18 from Discover Magazine

Bitcoin will use 0.5% of world's electricity by end of 2018, finds study

A single bitcoin transaction requires as much electricity as the average Dutch household uses in a month

Wed 16 May 18 from The Independent

Bitcoin estimated to use half a percent of the world's electric energy by end of 2018

Bitcoin's burgeoning electricity demands have attracted almost as much attention as the cryptocurrency's wildly fluctuating value. But estimating exactly how much electricity the Bitcoin network ...

Wed 16 May 18 from TechXplore

Bitcoin’s Massive Power Usage Explained in New Analysis

At current levels, de Vries estimates Bitcoin mining uses at least 2.6GW of power per year, and that number could grow to as much as 7.7GW by the end of the year. The post Bitcoin’s Massive ...

Fri 18 May 18 from Extremetech

Bitcoin Mining Puts Massive Strain on Electric Power

The vast supply of electricity required to mine bitcoin is as contested as this weekend’s royal wedding. The energy-hungry cryptocurrency demands huge amounts of power to process peer-to-peer ...

Fri 18 May 18 from Geek.com

New study quantifies bitcoin’s ludicrous energy consumption

Bitcoin could consume 7.7 gigawatts by the end of 2018.

Thu 17 May 18 from Arstechnica

Bitcoin could consume more electricity than all of Austria before the end of the year, expert warns

In a paper published to the journal Joule, a financial economist says Bitcoin's electric energy consumption could sooon reach 'shocking' levels. It currently uses almost as much energy as ...

Wed 16 May 18 from Daily Mail

Bitcoin to consume 0.5% of the world’s electricity — as much as Ireland

Bitcoin may have made some people rich, but it also consumed a lot of energy and produced a lot of emissions in the process.

Wed 16 May 18 from ZME Science

Bitcoin Is Sucking Up So Much Energy, It Could Stop Being Profitable

If bitcoin energy trends continue, mining bitcoin could soon stop being profitable, an economist found.

Wed 16 May 18 from Livescience

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