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Bitcoin => Press => Topic started by: Grand_Voyageur on May 28, 2015, 10:29:54 AM



Title: [2015-05-27] Think Tank Reignites Debate Over BTC Mining's Climate Effects
Post by: Grand_Voyageur on May 28, 2015, 10:29:54 AM
Think Tank Reignites Debate Over Bitcoin Mining's Environmental Effects

Quote
Debate about the environmental effects of bitcoin mining has resurfaced following claims by an Australia-based sustainability think tank that bitcoin could eventually consume 60% of annual global electricity production.

According to the Long Future Foundation's website, its calculations are based on the assumption that 1 BTC is valued at £1m, the cost of mining this resource is $500,000 and 3,600 bitcoins are produced every day.

"Bitcoin miners can get power cheaply for $0.05 per kilowatt hour (kWh) which means that they get 20 kWh per dollar spent," notes the website.

Full story: http://www.coindesk.com/think-tank-debate-bitcoin-mining-environment/