Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Electricity Consumption
by
zasad@
on 24/12/2020, 09:39:22 UTC
I think his point is that the bitcoin miners consumes more electricity than those computer users that mainly use their devices with just searching or browsing.
Yes, but we've already seen above that bitcoin miners use significantly more green and renewable energy than standard computers and other appliances. In addition, there is evidence that bitcoin miners actually increase the production of green energy and the development of renewable infrastructure. You can't just stick solar panels in the middle of the desert or build a hydro plant 100km from civilization and expect to make a profit - you need people or facilities nearby that you can sell your energy too. Bitcoin miners can be placed anywhere, and so will buy energy from green sources which would otherwise be unprofitable. Because of this, bitcoin mining can lead to the development of new and existing renewable projects which otherwise would not exist.
https://cbeci.org/mining_map
See statistics on bitcoin mining by country. Obviously, mining is developing in countries where electricity is very cheap.
I read articles by miners about solar and wind energy, which say that investing money in this equipment pays off for a very long time.
The cost of 1 kilowatt in these countries is less than 1 cent (except for the USA, probably). In such a situation, alternative sources of electricity are unprofitable.