The amount of electricity consumed by the largest cryptocurrency networks has decreased by up to 50% as the “crypto winter” continues to eat at the incomes of “miners” and financial contagion spreads further throughout the sector.

The electricity consumption of the bitcoin network has fallen by a third from its high of 11 June, down to an annualised 131 terawatt-hours a year, according to estimates from the crypto analyst Digiconomist. That still equates to the annual consumption of Argentina, with a single conventional bitcoin transaction using the same amount of electricity that a typical US household would use over 50 days.

  • @rysiekOP
    42 years ago

    Yup. And a company that advertised on “we will never keep your funds hostage” (Celsius, I believe) kept their customers’ funds hostage.

    I am as shocked as anyone. 🙄