Electricity consumption of bitcoin begins to fall

According to data from the Cambridge Bitcoin Electricity Consumption Index (cbeci), the electricity consumption of the cryptocurrency plummeted 60 % from the all-time high reached above 143 terawatt-hours (twh).

No such low numbers were observed in terms of electricity consumption for the digital asset since November last year.

Consumption is estimated to be around 67 twh for the moment, while the upper limit of maximum consumption or total electricity expenditure is located at 162 twh below the 500 averaged in May.

The estimate of the lower limit, which corresponds to the absolute minimum total electricity expenditure based on the most favorable hypothesis that all miners always use the most efficient equipment on the market, has also decreased from 47 TWh to 24 TWh.

Despite the fact that regulators in various countries continue to blame bitcoin for excessive energy consumption and the associated environmental catastrophe, its electricity consumption has recently decreased massively, according to some data.

K. Tovar

Source: Cointelegraph