Just 137 crypto miners use 2.3% of total U.S. power — government now requiring commercial miners to report energy consumption::The U.S Energy Information Administration is now requiring large-scale cryptomining operations to report their energy consumption. Inevitably this will bring about new regulations that will restrict the energy consumption of miners in the future.
ITT: Butthurt crypto bros
Wow. No kidding. I lost a very close friend who got obsessed with the “get rich quick” aspect of crypto, and these losers sound just like he did. Granted, there were a multitude of other reasons I stopped talking to him, but holy fuck
Let’s waste 2.7% energy for some virtual asset with purely speculative value while we warm our planet past the 1.5C. All out of greed.
Fake news
Which part?
Seriously. This is so much bullshit. The bigger operations are out in the north west where hydro power is abundant and cheap. I’m sure plenty of others have made moves to run on solar or wind as well. Power costs make or break profitability for a crypto mine.
Everyone downvoting this has no idea what it takes to mine crypto. If I cared enough about the peanut gallery here I would find one of my spreadsheets from years ago where I calculated the cost of mining versus buying directly. Most of the time for individuals and those wanting to hold it, buying was the best option. The only way these big operations make any money is getting kwh as cheap as possible and taking a fee from those paying them to mine for them.
Even with commercial rates, you’d have to be a trump size moron to setup shop in and around any city or town full of people.
That doesn’t apply to mining crypto and the fact that you think it does tells me that you have no idea what is going on here.
🤣
Tell me you’ve never mined any crypto without telling me that you’ve never mined any crypto.
I could attempt to explain it but I get the feeling that you wouldn’t understand it.
🤣🤣
You are talking like if this was creating any real value. Replace “mining crypto” with “wasting” in these.
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…what? Are you implying there aren’t enough hours in a year to use up that much energy? That doesn’t make any sense. What do you imagine is the maximum amount of energy a single person can use then?
I don’t think you understand how electricity works. Like at all. Do you think things max out at using 1 kWh? Why 1kWh and not simply 1 Wh? Or why could they not use 1 MWh? Should I inform the power company that they are clearly billing me wrong since they claim I use over 8760 kWh per year?
Instead you should be surprised that they are consuming so much goddamn power for something that has little use.
Someone with some brains. I think I like you.
