Chances are that you’ve already got some opinions on bitcoin and energy. No matter which side you’re on, there’s no denying that bitcoin consumes a lot. But what we want to clear up is how much, and more importantly where, that energy comes from. You might be surprised by how much the facts don’t match the headlines.
In this video, Aubrey Strobel walks us through some facts about bitcoin’s energy consumption before looking ahead to a time when bitcoin is not only much bigger but much greener, ultimately increasing demand for and investment in renewable energy technologies along the way.
Hello Bitcoin is a friendly place to learn about bitcoin and we're excited to answer your questions.
Learn more at https://www.hellobitco.in/
Join our discord community: https://discord.gg/zVBthSVbEd
Follow us on Twitter: https://twitter.com/hello_bitcoin
You can always tweet us a question by including #hellobitcoin and we'll answer you as best we can.
Sources:
- Hashrate 95 Twh/yr https://ccaf.io/cbeci/index (late summer 2021)
- Clothes dryers US: https://twitter.com/csuwildcat/status...
40-70% renewable mining: https://coinshares.com/research/bitco... & https://www.jbs.cam.ac.uk/faculty-res...
- Industrial renewable mix: https://www.eia.gov/totalenergy/data/...
- Bitcoin US mining renewable mix: https://bitcoinminingcouncil.com/wp-c...
- Less than 1% of global energy output: model inputs (assumes aggressive bitcoin growth for year 2030): BTC price: $1M; BTC mined annually: 82,000; BTC tx fees: 115,000; global energy production: 196,000 Twh; total energy purchased by miners: 1,500 TwH (using 2030 revenue and extrapolating from 14B total miner revenue in 2021 with BTC $40K and mining at 110TwH); share: 0.77%
Want to go deeper? https://niccarter.info/topics/#energy
#bitcoin #beginners
In this video, Aubrey Strobel walks us through some facts about bitcoin’s energy consumption before looking ahead to a time when bitcoin is not only much bigger but much greener, ultimately increasing demand for and investment in renewable energy technologies along the way.
Hello Bitcoin is a friendly place to learn about bitcoin and we're excited to answer your questions.
Learn more at https://www.hellobitco.in/
Join our discord community: https://discord.gg/zVBthSVbEd
Follow us on Twitter: https://twitter.com/hello_bitcoin
You can always tweet us a question by including #hellobitcoin and we'll answer you as best we can.
Sources:
- Hashrate 95 Twh/yr https://ccaf.io/cbeci/index (late summer 2021)
- Clothes dryers US: https://twitter.com/csuwildcat/status...
40-70% renewable mining: https://coinshares.com/research/bitco... & https://www.jbs.cam.ac.uk/faculty-res...
- Industrial renewable mix: https://www.eia.gov/totalenergy/data/...
- Bitcoin US mining renewable mix: https://bitcoinminingcouncil.com/wp-c...
- Less than 1% of global energy output: model inputs (assumes aggressive bitcoin growth for year 2030): BTC price: $1M; BTC mined annually: 82,000; BTC tx fees: 115,000; global energy production: 196,000 Twh; total energy purchased by miners: 1,500 TwH (using 2030 revenue and extrapolating from 14B total miner revenue in 2021 with BTC $40K and mining at 110TwH); share: 0.77%
Want to go deeper? https://niccarter.info/topics/#energy
#bitcoin #beginners
