The world's cryptocurrency mining uses more electricity than Iceland

Today’s cryptocurrencies are worth a great deal of “real” money. Both Bitcoin and Ethereum, the two most widely adopted cryptocurrencies, are close to their all-time highs in value, and that’s creating some real consequences that might not be completely obvious and intuitive at first glance. Two such consequences are based entirely on the fact that mining cryptocurrency is incredibly compute-intense and requires powerful components to be profitable.

The first such impact has been to devastate the supply of the midrange and high-end GPUs that are used for mining and to dramatically increase their prices if available inventory can be located. The other impact is that the use of ultra-powerful mining systems with multiple GPUs sucks down some serious electricity and is resulting in some pretty impressive statistics, as Digiconomist reports.

According to Digiconomist, Bitcoin and Ethereum mining taken together consume more power than countries like Jordan, Iceland, and Syria, with the two combined ranking 71st among all countries. This is based on Ethereum mining consuming 4.69 terawatt-hours (TWh) of power and Bitcoin mining consuming 14.54 TWh.

Full story at http://bit.ly/2u7brNN

Source: https://digitaltrends.com

 

 

 

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