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Over 2 percent of the US’s electricity generation now goes to bitcoin

US government tracking the energy implications of booming bitcoin mining in US.

While its analysis is preliminary, the Energy Information Agency (EIA) estimates that large-scale cryptocurrency operations are now consuming over 2 percent of the US's electricity. The EIA report notes that, in the wake of a crackdown on cryptocurrency in China, a lot of that movement has involved relocation to the US, where keeping electricity prices low has generally been a policy priority. But based on these initial numbers, it's clear that the relocation of so many mining operations to the US will significantly hinder efforts to bring the US's electric grid to carbon neutrality.

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