This appetite for electricity has drawn widespread criticism from celebrities such as Tesla CEO Elon Musk to government bodies such as China’s Stat
This appetite for electricity has drawn widespread criticism from celebrities such as Tesla CEO Elon Musk to government bodies such as China’s State Council and the United States Senate over Bitcoin’s impact on climate change. But while these figures are alarmingly high, it’s important to note that Bitcoin mining at most accounts for 1.29% of any single country’s energy consumption. Not to mention, Bitcoin is a complete financial system whose energy consumption can be measured and tracked, unlike the fiat system which cannot be accurately measured and requires a range of additional layers to function, including ATMs, card machines, bank branches, security vehicles, storage facilities and huge data centers.
www.coindesk.com