Energy consumption on the bitcoin blockchain network has declined by up to 35% amid a meltdown in the value of the cryptocurrency, Mint reported, citing trackers who compile details on how much energy crypto transactions consume.
Bitcoin’s energy consumption dropped from 204.5 TWh (terawatt-hour) per year earlier this month to a low of 130.5 TWh on June 19, the lowest level in a year, the report said, citing Dutch economist Alex de Vries.
Read the full report: Mint.
China’s Bitcoin Mining Energy Use Drops, FT Reports
Kazakhstan Unrest Slashes Bitcoin Mining Operations
El Salvador Plans ‘Bitcoin City’, Backed By Bitcoin Bonds