Bitcoin Mining requires more electricity than all households together!
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In Iceland bitcoin mining requires more electricity than all 340,000 icelandic households together.
Therefore Pirate Party legislator McCarthy wants bitcoin mining to be regulated and taxed.
I've always wondered why people don't just power them with solar or a tesla battery or something. I do think they are working on this problem though by creating stronger GPU hashing chips. But honestly I have no idea what I'm talking about. I just think there is a better solution to this.
That is a pretty crazy figure. I read that it cost over a $1000 of electricity to mine one BTC. The good new is, BTC should never drop below a $1000.