Bitcoin

Bitcoin’s Energy Consumption Equalled That of Hungary in 2018

Bitcoin miners consumed as much as energy in 2018 as Hungary, according to Alex de Vries. The researcher at the Netherlands’ PricewaterhouseCoopers (PwC) branch studied bitcoin’s global energy consumption all across the year. He found that existing hydropower projects were not sufficient in sustaining the cryptocurrency mining operations, adding that the bitcoin network demanded as […]

Bitcoin

Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions

Bitcoin and its trustless, decentralized design requires a unique process called mining that validates each transaction being added to its underlying blockchain. The process involves solving complex mathematical equations, and typically requires some serious computer processing power, and even specially-designed hardware, to validate each block. Due to the amount of energy consumed during this process, […]