Cryptocurrency Q&A
Why does Bitcoin cost electricity?
Why does Bitcoin cost electricity?
CryptoGladiator
Wed Dec 18 2024
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7
answers
1234
I'm wondering why Bitcoin, this digital currency, actually consumes electricity. Isn't it just supposed to be a virtual, decentralized form of money that exists online? Why does it have a real-world cost, specifically in electricity usage?
7 answers
SakuraTide
Fri Dec 20 2024
Bitcoin mining is an intricate process that involves extensive computer calculations.
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ethan_thompson_psychologist
Thu Dec 19 2024
They estimate that Bitcoin consumes approximately 121.36 trillion kilowatt-hours (TWh) of electricity annually.
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WhisperWind
Thu Dec 19 2024
This figure highlights the environmental impact of Bitcoin mining, which is a growing concern among stakeholders.
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BonsaiBeauty
Thu Dec 19 2024
These calculations are crucial for transaction authentication, ensuring the security of the blockchain.
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mia_harrison_painter
Thu Dec 19 2024
Due to the complexity and scale of these operations, Bitcoin mining consumes a significant amount of energy.
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