Re: Impact of mining technology on global bitcoin energy usages
I often hear that improvements of mining technology (more hashes per kWh) would improve Bitcoin energy usage. Isn't that just a misunderstanding?
It is true, not misunderstanding.Bitcoin electricity consumption: an improved assessment. CBECI adjusted their methodology for their Cambridge Bitcoin Electricity Consumption Index too.
See these two figures which shows the improvement of Bitcoin mining rigs including ASICs and difference between old and new methodologies.
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Figure 1: Historical evolution of bitcoin mining hardware
Figure 6: Comparison of annual Bitcoin electricity consumption estimates (as of 15/08/2023). The result for 2023 represents the year-to-date estimate.
Figure 6: Comparison of annual Bitcoin electricity consumption estimates (as of 15/08/2023). The result for 2023 represents the year-to-date estimate.
