Bitcoin Mining: How Much Electricity It Takes and Why People Are Worried
— Worried, Energy, Crypto, Called, Computers, Bitcoin, Mining, Electricity, Power, Miners — 1 min read
Tesla CEO Elon Musk said his company would no longer accept bitcoin for vehicle purchases in 2021. Elon Musk delivered Tesla Megapack batteries to a Texas bitcoin mining facility in May. As the energy bill for crypto mining rises, so does the amount of fossil fuel-generated energy. One bitcoin transaction takes 1,449 kWh to complete, or the equivalent of 50 days of power for the average US household. A mining center in Kazakhstan is equipped to run 50,000 mining rigs, and another mining farm in China has a monthly electricity bill of more than $1 million as it mines 750 bitcoins a month. The amount of electronic waste is 34 kilotons, or comparable to the amount produced by the Netherlands, according to the 3rd Global Cryptoasset Source