Bitcoin consumes ‘more electricity than Argentina’
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Cristina Criddle from bbc said that Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests.”Mining” for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.
Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year – and is unlikely to fall unless the value of the currency slumps.Critics say electric-car firm Tesla’s decision to invest heavily in Bitcoin undermines its environmental image.
The currency’s value hit a record $48,000 (£34,820) this week. following Tesla’s announcement that it had bought about $1.5bn bitcoin and planned to accept it as payment in future.
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