Tag: mining

  • The U.S. Government Seems to Be Closing in on Bitcoin Mining

    For instance, the justification for the emergency order, granted by the Office of Management and Budget, was the recent crypto price rally, which saw bitcoin climb over 50% in a matter of months, which the EIA said would “incentivize more cryptomining activity, which in turn increases electricity consumption.” The U.S. Government Seems to Be Closing…

  • Bitcoin mining boosts the transition to renewable energy

    The global popularity of Bitcoin (BTC) has resulted in its network energy consumption sitting at 147.3 terawatt-hours per year as of Jan. 19, 2024. This puts the network close to the yearly average energy consumption of countries such as Ukraine, Malaysia and Poland, according to the University of Cambridge. This nation-state level of electricity consumption,…