Research: Bitcoin mining consumes twice as much energy as gold mining

in #bitcoin6 years ago

A study from a US-based research center found that the energy spent in Bitcoin mining is twice the energy used in gold mining.
Oak Ridge Institute researchers in the state of Ohio, USA, suggest that the amount of electricity spent in crypto-currency mining is twice the amount of electricity spent in most metal mining in dollar terms.
The report shows that a Bitcoin with a dollar value consumes approximately 17 megajoules of energy, while copper, alton and platinum consume four, five and seven megajoules, respectively. The report also noted that the mining activities may consume different energy according to the location in which it was carried out, while the carbon footprint in China due to crypto-currency mining is four times that of Canada.
The report included the following assessments:
The comparison was made in order to measure the centralized energy demand of someone's mining and other factors and determine whether these energy demands are sustainable or not.

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