Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Bitcoin Mining Consumes Less Energy Than Gaming, Reveals Report

by Hououin Kyouma
September 4, 2022
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Knowledge exhibits the Bitcoin mining business consumes barely much less vitality in whole in comparison with the video gaming sector.

Bitcoin Mining Power Consumption Stands At 100 TWh Per Yr Proper Now

Based on a latest report launched by Arcane Analysis, whereas the BTC mining vitality consumption has grown considerably in recent times, the business nonetheless makes up a really small a part of the worldwide whole.

At present, Bitcoin miners are using electrical energy at a fee of round 100 TWh per 12 months. This determine accounts for about 0.06% of the world’s whole vitality calls for, fairly insignificant.

Here’s a chart that exhibits how BTC mining compares with a few of the different energy-intensive industries on Earth:

The business's vitality calls for are decrease than all these sectors | Supply: Arcane Analysis's "How Bitcoin Mining Can Rework the Power Trade"

As you may see within the above graph, the video gaming business consumes about 105 TWh per 12 months, simply barely greater than what BTC miners use.

Gold mining, then again, takes far more electrical energy to run as its annual vitality consumption stands at round 240 TWh in the meanwhile, nearly 2.5x BTC mining wants.

The chart additionally contains knowledge for paper manufacturing, which calls for 2,361 TWh per 12 months, 10 occasions Gold mining’s, and 24 occasions BTC miners’.

The report additionally argues that the way in which BTC miners devour energy is completely different from these different energy-intensive industries.

BTC Miners Are Distinctive Shoppers Of Electrical energy

There are 5 fundamental issues that make these miners “distinctive customers of vitality.” First, round 80% of the operation prices of BTC mining is made up by electrical energy alone.

Which means that miners have loads of incentive to do with as little vitality as they will, or transfer to areas the place costs are decrease.

The second distinction is that mining is location agnostic. Miners can arrange their amenities just about anyplace, and might thus make use of vitality assets not being utilized by anybody else due to location limitations of different industries.

Third, Bitcoin miners can flip their machines on or off at a second’s discover. Not simply that, they will even alter their consumption watt by watt. The report notes that this characteristic makes mining very appropriate for performing as a demand-response device, which might assist enhance the power of electrical energy grids.

The fourth distinctive level about BTC mining is the modularity. Particular person AISC machines may be clubbed collectively in any portions, thus making miners have the ability to scale up their amenities precisely in accordance with how a lot vitality is out there. This implies miners could make use of 100% extra vitality popping out of energy initiatives.

Lastly, there’s the portability of the mining rigs. Bitcoin miners can simply transport their machines to different places due to how transportable AISC setups are.

On the time of writing, Bitcoin’s worth floats round $19.8k, down 2% up to now week.

Bitcoin Price Chart

BTC has gone down over the previous day | Supply: BTCUSD on TradingView
Featured picture from Brian Wangenheim on Unsplash.com, charts from TradingView.com, Arcane Analysis



Source link

Tags: BitcoinConsumesEnergyGamingMiningReportreveals
Previous Post

Hackers caused a massive traffic jam in Moscow using a ride-hailing app

Next Post

The entire global economy is having a slow-motion meltdown. Looks like the E.U. will tank first. – Investment Watch

Related Posts

Research Predicts 0,000 Bitcoin By EOY, If Treasury Firms Hold

Research Predicts $160,000 Bitcoin By EOY, If Treasury Firms Hold

by Jake Simmons
July 11, 2025
0

Motive to belief Strict editorial coverage that focuses on accuracy, relevance, and impartiality Created by business consultants and meticulously reviewed...

Remixpoint CEO to Receive Entire Salary in Bitcoin

Remixpoint CEO to Receive Entire Salary in Bitcoin

by Emmanuel Musa
July 11, 2025
0

Japanese-listed agency Remixpoint has change into the primary within the nation to pay its CEO completely in bitcoin, aligning government...

OpenAI Faces IRS Complaint Over Alleged Tax Violations

OpenAI Faces IRS Complaint Over Alleged Tax Violations

by Cointelegraph By Martin Young
July 11, 2025
0

Synthetic intelligence watchdog the Midas Venture has filed a grievance in opposition to ChatGPT maker OpenAI, accusing the agency of...

Here Are Top Developments Surrounding XRP Recently That You Should Be Aware Of

Here Are Top Developments Surrounding XRP Recently That You Should Be Aware Of

by Scott Matherson
July 10, 2025
0

Trusted Editorial content material, reviewed by main trade specialists and seasoned editors. Advert Disclosure The XRP ecosystem is witnessing a...

Coinbase Adds Support for Pump.Fun Ahead of $PUMP Token ICO

Coinbase Adds Support for Pump.Fun Ahead of $PUMP Token ICO

by Kelvin Munene Murithi
July 10, 2025
0

Coinbase Worldwide Change has introduced that it'll add help for the $PUMP token forward of its Preliminary Coin Providing (ICO)....

REX Shares files for 2X leveraged TRON ETF

REX Shares files for 2X leveraged TRON ETF

by Vivian Nguyen
July 11, 2025
0

Key Takeaways T-Rex Group filed for a leveraged ETF focusing on 200% of TRON's every day efficiency. The ETF makes...

Next Post
The entire global economy is having a slow-motion meltdown. Looks like the E.U. will tank first. – Investment Watch

The entire global economy is having a slow-motion meltdown. Looks like the E.U. will tank first. – Investment Watch

Why Nigeria’s ban on foreign models won’t work

Why Nigeria's ban on foreign models won't work

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

July 11, 2025
PEP, Supportive Care, and More

PEP, Supportive Care, and More

July 11, 2025
Research Predicts 0,000 Bitcoin By EOY, If Treasury Firms Hold

Research Predicts $160,000 Bitcoin By EOY, If Treasury Firms Hold

July 11, 2025
Russia develops Mi-80 to replace iconic Hip helicopter

Russia develops Mi-80 to replace iconic Hip helicopter

July 11, 2025
Elon Musk’s SpaceX set to launch Israel’s Dror satellite

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

July 11, 2025
Corn Sticking Close to Unchanged at Midday

Corn Sticking Close to Unchanged at Midday

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

PEP, Supportive Care, and More

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In