The majority of cryptocurrency mining is paid for by fixed inflationary rewards, not transaction fees. That means that the power used by mining isn’t directly d

The majority of cryptocurrency mining is paid for by fixed inflationary rewards, not transaction fees. That means that the power used by mining isn’t directly dependent on the number of transactions being processed. When you hear “each Bitcoin transaction burns x MJ”, that’s a simplification. Custodial cryptocurrency services therefore don’t consume meaningfully more or less power than non-custodial services. They both rely on the underlying protocol remaining functional, which is where the bulk of power consumption occurs.