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cryptocurrency

01/15/2018 / By Ethan Huff

Cryptocurrency is now breaking the power grid of a U.S. county as electrical consumption for Bitcoin mining reaches “insane” territory

The amount of electricity required to mine and transact Bitcoin is now so high that a small county in Washington state is having to kick production into overdrive. According to reports, Douglas County, located in almost the dead-center of the state, has some of the cheapest electricity rates in the country, and this has created heavy […]

12/04/2017 / By Ethan Huff

Bitcoin now consuming more electricity than 12 U.S. states as inefficient “mining” heads for collapse

You might not be able to see or touch it because it isn’t actually made up of real physical matter, but the digital cryptocurrency Bitcoin is still having an enormously tangible impact on the world – and no, we’re not talking about the way that it’s changing the financial landscape, in this case. According to […]

11/30/2017 / By Ethan Huff

Bitcoin is powered by COAL: Massive electricity usage to mine Bitcoins runs mostly on coal and pollutes the world with mercury and smog

Because they exist fictitiously somewhere out there in cyberspace, digital cryptocurrencies like Bitcoin might seem like more eco-friendly alternatives to traditional cash. But the latest data shows that not only does “mining” Bitcoin consume unprecedented amounts of energy, but the bulk of this energy comes from coal: A highly-polluting substance that, when burned, releases mercury […]

11/29/2017 / By Ethan Huff

Bitcoin on track to consume the ENTIRE global electricity supply by the year 2020

As the online cryptocurrency known as Bitcoin reaches record price highs, many people are now asking themselves: Is Bitcoin really where the financial sector is headed? Not if you care about the environment, suggests shocking new data compiled as part of Digiconomist‘s “Bitcoin Energy Consumption Index” (BECI). This eye-opening measure of how much energy it […]

11/28/2017 / By News Editors

Bitcoin mining now consuming more electricity than 159 countries including Ireland and most of the countries in Africa

Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst. (Article republished from PowerCompare.co.uk) However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge […]

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