How a lot energy does the worldwide bitcoin mining methods of the world devour? A freaking lot. In keeping with new research, bitcoin-related energy consumption has hit new highs in 2020.
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Bitcoin-related energy consumption chews over 7 gigawatts of energy, with a brand new research from the Cambridge Middle for Various Finance saying that the worldwide bitcoin mining trade makes use of 7.64 GW of energy — equal to round 63.32 terawatt-hours of power consumption.
With energy prices of round $0.03 to $0.05 per kWh in 2020, March estimations had round $4000 in income with the March 2020 price of bitcoin at round $7500. That is not unhealthy, however you want the super-low energy costs and sufficient ASICs to do it.
The present Bitcoin mining hashrate is at round 120EH/s with its excessive scraping 140EH/s this yr, with new Bitcoin mining services opening up the world over that hashrate continues to skyrocket — and with it, energy consumption the world over.
Fintech Zoom reviews that researchers from Bitooda estimate that China has round 50% of the worldwide Bitcoin mining hashrate.