Mining first cryptocurrency consumes 35 TWh of electricity, which is two times lower than previously announced, the developer of the index of energy consumption of the bitcoin network (BECI) Alex de Vries. This is stated in the published in June, the research company Coinshares supplying research products in the field of cryptocurrency.
“Our findings fundamentally contradict what was presented by Alex de Fries. I believe that his figures are based on wrong assumptions resulting from inadequate research,” — said the head of Coinshares and study co-author Christopher Bendiksen.
According to the report Coinshares annually, Hasrat network is growing at about 300%, the efficiency of the chip is increased by 80%, while the cost of the chip average falls to 50%.
The study also noted that while bitcoin mining is most often used cheap renewable energy, in particular hydroelectric.
“Concerning the use of coal-fired power plants, in mining, it is safe to say that this phenomenon is not widespread, is entirely seasonal and takes place only in some regions of China,” the report says.
We will remind, in may, the Alex de Vries said that by the end of 2018, the energy consumption for mining bitcoins will be 0.5% of the total consumption of the planet.