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Over 2 Percent of the US's Electricity Generation Now Goes To Bitcoin

"In the last few years, the U.S. has seen a boom in cryptocurrency mining," writes Ars Technica. But they add that the U.S. government "is now trying to track exactly what that means for the consumption of electricity. Specifically, a crucial branch of the U.S. Department of Energy. "While its a...

"While its analysis is preliminary, the Energy Information Agency (EIA) estimates that large-scale cryptocurrency operations are now consuming over 2 percent of the U.S.'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 U.S., where keeping electricity prices low has generally been a policy priority. One independent estimate made by the Cambridge Centre for Alternative Finance had the US as the home of just over 3 percent of the global bitcoin mining at the start of 2020.

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