DoomsdaysCW<p>From 2022: <a href="https://kolektiva.social/tags/Bitcoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bitcoin</span></a> Mining: How Much Electricity It Takes and Why People Are Worried</p><p><a href="https://kolektiva.social/tags/Crypto" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Crypto</span></a> consumes a ton of power to keep things running. </p><p> Oscar Gonzalez<br>July 18, 2022 2:08 p.m. PT</p><p>"Bitcoin mining uses around as much energy as <a href="https://kolektiva.social/tags/Argentina" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Argentina</span></a>, according to the Bitcoin Energy Consumption Index, and at that annualized level of 131.26 terawatt-hours, crypto mining would be in the top 30 of countries based on <a href="https://kolektiva.social/tags/EnergyConsumption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EnergyConsumption</span></a>"</p><p>"As the energy bill for crypto mining rises, so does the amount of <a href="https://kolektiva.social/tags/carbon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>carbon</span></a> and waste, adding to the growing <a href="https://kolektiva.social/tags/ClimateCrisis" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ClimateCrisis</span></a>. </p><p>"Here's what you need to know about crypto mining and its energy uses. </p><p>"What is crypto mining? </p><p>"When bitcoins are traded, computers across the globe race to complete a computation that creates a 64-digit hexadecimal number, or hash, for that bitcoin. This hash goes into a public ledger so anyone can confirm that the transaction for that particular bitcoin happened. The computer that solves the computation first gets a reward of 6.2 bitcoins, or about $134,000 at current prices. </p><p>"Other cryptocurrencies and <a href="https://kolektiva.social/tags/NFTs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NFTs</span></a> use similar mining technologies, contributing to the overall energy usage. <br>What is a crypto mining rig? </p><p>"It's a barebones computer with multiple graphics cards, or GPUs, instead of the single-card standard, and it does the work to complete a computation. Rigs usually use powerful GPUs from Nvidia and AMD to handle calculations and require high-wattage power supplies. The popularity of mining led to a shortage of graphics cards, which in turn caused their values to rise. <br>A crypto mining farm, in shades of green and blue, in Nadvoitsy, Russia.</p><p>A crypto mining farm in Nadvoitsy, Russia. Getty Images<br>Why is crypto mining so energy-intensive? </p><p>For starters, graphics cards on mining rigs work 24 hours a day. That takes up a lot more power than browsing the internet. A rig with three GPUs can consume 1,000 watts of power or more when it's running, the equivalent of having a medium-size window AC unit turned on. </p><p>"Crypto mining businesses can have hundreds or even thousands of rigs in one location. A mining center in <a href="https://kolektiva.social/tags/Kazakhstan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Kazakhstan</span></a> is equipped to run 50,000 mining rigs, and another mining farm in <a href="https://kolektiva.social/tags/China" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>China</span></a> has a monthly electricity bill of more than $1 million as it mines 750 <a href="https://kolektiva.social/tags/bitcoins" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>bitcoins</span></a> a month. </p><p>Not only do rigs take up power, they also generate heat. The more rigs you have, the hotter it gets. If you don't want your rigs to melt, you need some cooling. Many mining rigs have multiple built-in computer fans. But if you have multiple rigs, the room quickly gets hot, requiring external cooling. Small operations, like those run by individuals, can get by with a typical standing fan. Mining centers, however, need a lot more cooling, which in turn requires even more electricity."</p><p>Read more:<br><a href="https://www.cnet.com/personal-finance/crypto/bitcoin-mining-how-much-electricity-it-takes-and-why-people-are-worried/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">cnet.com/personal-finance/cryp</span><span class="invisible">to/bitcoin-mining-how-much-electricity-it-takes-and-why-people-are-worried/</span></a> </p><p><a href="https://kolektiva.social/tags/Crapitalism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Crapitalism</span></a> <a href="https://kolektiva.social/tags/FakeMoney" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FakeMoney</span></a> <a href="https://kolektiva.social/tags/RealEnergyUse" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>RealEnergyUse</span></a></p>