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According to a press release carried by Eurekalert
In the first rigorously peer-reviewed article quantifying Bitcoin's energy requirements, a Commentary appearing May 16 in the journal Joule, financial economist and blockchain specialist Alex de Vries uses a new methodology to pinpoint where Bitcoin's electric energy consumption is headed and how soon it might get there.
The abstract of the article says
The Bitcoin network can be estimated to consume at least 2.55 gigawatts of electricity currently, and potentially 7.67 gigawatts in the future, making it comparable with countries such as Ireland (3.1 gigawatts) and Austria (8.2 gigawatts). [...]
The author offers a caveat:
[...] all of the methods discussed assume rational agents. There may be various reasons for an agent to mine even when this isn't profitable, and in some cases costs may not play a role at all when machines and/or electricity are stolen or abused.
[Other] reasons for an agent to mine Bitcoin at a loss might include [...] being able to obtain Bitcoin completely anonymously, libertarian ideology [...] or speculative reasons.
(Score: 0) by Anonymous Coward on Monday May 21 2018, @02:39PM (2 children)
Learn something new every day!
(Score: 2) by looorg on Monday May 21 2018, @03:12PM (1 child)
Don't they just use two really large potatoes and a couple of nails? That is all the powers they are ever going to need plus it is 100% green spudpower!
(Score: 2) by arslan on Monday May 21 2018, @11:03PM
I prefer 2 really large lemons thank you. They smell fresher too!