Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?
it
might. ideally, bitcoin miners would flock to areas where there is surplus electricity capacity---situations like hydroelectric plants where there is more energy generated from running water than is needed in the area. in those cases, miners could be securing the network with little or no energy footprint.
the use of renewable energy sources in mining is also relevant here. it's not just a question of
how much electricity miners use; it's a question of
what electricity.