Iran bans cryptocurrency mining for four months after blackouts
Bitcoin consumes ‘more electricity than Argentina’
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.
Bitcoin’s electricity consumption is currently greater than The Netherlands’, according to the Cambridge Bitcoin Electricity Consumption Index.
These massive Computers Banks are sucking up tremendous amounts of Electricity. Are Power Grids setup to keep them running or your home?