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Digiconomist Tweets on Colossal Loss of Resources in Bitcoin Mining

Published 01/04/2023, 12:32 AM
Updated 01/04/2023, 01:00 AM
© Reuters.  Digiconomist Tweets on Colossal Loss of Resources in Bitcoin Mining
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  • For every blockchain transaction, the network used 1,738 kWh of electricity on average.
  • Ethereum had fewer on-chain transactions in 2022 than Bitcoin had.
  • The carbon footprint of one Bitcoin transaction last year was 969 kilograms of CO2.

In a recent Twitter thread, Digiconomist noted that the total amount of power used by the bitcoin mining sector in 2017 was 161 TWh. Notably, there was a larger power usage than in comparison to all of Sweden.

Additionally, for every blockchain transaction performed, the network used an average of 1,738 kWh of electricity. The average U.S. ...

The post Digiconomist Tweets on Colossal Loss of Resources in Bitcoin Mining appeared first on Coin Edition.

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