According to a recent Arcane Research analysis, while BTC mining energy consumption has increased dramatically in recent years, the industry still accounts for a very small portion of the global total. Currently, Bitcoin miners consume approximately 100 TWh of electricity each year. This amount accounts for roughly 0.06% of total global energy demand, which is minimal.
According to the chart above, the video game business consumes approximately 105 TWh per year, somewhat more than BTC miners need.
Gold mining, on the other hand, requires far more electricity to operate, with an annual energy consumption of roughly 240 TWh, nearly 2.5 times that of Bitcoin mining.
The graph also contains data for paper production, which requires 2,361 TWh per year, 10 times that of gold mining and 24 times that of Bitcoin mining. The paper also claims BTC miners consume power differently than other energy-intensive enterprises.
Five main things make these miners the least energy consumers.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Miami, Florida, 13th November 2024, Chainwire
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