Think Tank Reignites Debate Over Bitcoin Mining's Environmental EffectsDebate 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/
