We all know how energy intensive mining is. This article from Grist frames the issue with some hard numbers:
“The total energy use of this web of [mining] hardware is huge — an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year.”
“By July 2019, the bitcoin network will require more electricity than the entire United States currently uses. By February 2020, it will use as much electricity as the entire world does today.This is an unsustainable trajectory. It simply can’t continue.“
Source: Grist.org article, link
photo credit: The Washington Post / Contributor / Getty Images.