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Previous discussion, 6 days ago: "Over 2 percent of the US's electricity generation now goes to Bitcoin (arstechnica.com)" https://news.ycombinator.com/item?i
by photochemsyn 3y ago
Previous discussion, 6 days ago:
"Over 2 percent of the US's electricity generation now goes to Bitcoin (arstechnica.com)"
https://news.ycombinator.com/item?id=39232838 https://news.ycombinator.com/item?id=39232838
The EIA analysis suffers from lack of comprehensive coverage and equal treatment of energy consumers - e.g. where's the EIA report on energy consumed by running high-frequency trading algorithms, which apparently are involved in 50% of stock market transactions these days? If the EIA's method for calculating cryptomining electricity consumption was applied across the board to all economic sectors, would they end up concluding total consumption was 2X total production or something nonsensical like that?