Bitcoin Power Consumption

[minairia3]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

I heard many crackdowns happening in China in many mining sites there. Environmentally speaking POW like the btc is realy not that good. I believe there are more eco-friendly POW model nowadays that is not that mainstream. That's the reason why they have invented POS but also some cons to that, though not on the nature side.

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[hadveach]

mining using ASIC, and by using energy other than electricity, and it will be friendly to the environment and save the country's electricity supply.

then, I think the government must limit electricity by making cost of electricity more expensive.

[feather7789]

yeah... bitcoin is very hard to mine because it has highest price in crypto and it requires more electricity to mine.

[KrishaBitcoin]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

The most common way is the use of the solar energy. Using heavy solar panel is very common now in which not only the people can save the money but they could help to save the nature too. In fact, this is the reason of why numbers of crypto miners won't reduce as they use this as an alternative source of energy but even do this is an energy saving but you should consider the expenses too just to build a solar facility so if you want to join mining then think of it very carefully.

[TheClownSong]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

I am believe right now many miner using alternative energy. Using solar energy is much cheaper and its good for our environment. Many alternative energy and miners must be want to eficient their energy usage

[sinkfish]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

a standard s9 antminer have a similar consumption to 1.0hp air conditioner. its actually pretty high demanding actually.

[franky1]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

at 50exahash
it would need 10 trillion PC's CPU mining
it would need 333 billion GPU's mining
it would require only 3.5million S9 asics mining
it would require only 1.75m T15 asics mining(without boost)
it would require only 1.4m T15 asics mining (with boost)

so i think you will find if you done the math of electric needed per category above. that as the network gets stronger(higher hash) those involved are actually .. yep. in reality already making it more eco friendly to mine.
again imagine if we were CPU mining at 50exa vs asic mining. and ull see the point

a standard s9 antminer have a similar consumption to 1.0hp air conditioner. its actually pretty high demanding actually.

to add to this, as someone else said else where. think about the billions of cans of soda drunk each week that need to be refrigerated. all them refrigerators around the world running 24/7 just to keep a cans of pepsi's cool

yeah... bitcoin is very hard to mine because it has highest price in crypto and it requires more electricity to mine.

think of it more so that bitcoin has highest price in crypto because it requires more electric to mine and SECURE it by making it harder for others to try manipulating transactions

[rindo]

I think this problem could be solved by the RIG developer itself.
Such as nvidia and amd, they should create a powerful vga with low power, so bitcoin mining will not consume not so much energy

The short-term results of the company are a reflection of the excess channel stock after the cryptocurrency boom. This will be corrected over time. In other words, the prices of Nvidia's graphics cards increased due to cryptocurrency-mining-insanity. However, once that demand had disappeared, prices fell too slowly to attract customers who were waiting for more affordable cards.

Nvidia's inventory increased to $ 70 million in the third quarter (€ 62 million). This was one of the reasons for the decline in Nvidia's gross margins. The margin decrease is also attributed to $ 57 million (€ 50 million) in costs related to the company's previous generations of chips after the dive into the demand for cryptocurrency mines. The shares of Nvidia have now dropped by about 16%.

[logic123]

bitcoin mining takes more electricity and more time and also it will take super computers other wise we can't mine.

[H1N1]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

The power consumption of mining bitcoin is quite much, not only bitcoin but mining other altcoins as well.
But it is nothing to compare with other heavy industries in the world, they consume more power than mining cryptocurrency.
Some mining farms actually using an eco-friendly resources to make electricity power for their mining farm.

[iSparta]

Bitcoin is mined using the PoW algorithm, which inevitably leads to increased power consumption with the high popularity of cryptocurrency. The society needs to impose restrictions on aggregate capacity for individual miners, pools and regions in order to increase decentralization, decrease hashrate and diminish energy consumption.

[Peacemaker1994]

I don't know much concerning bitcoin mining power but to be honest mining consumes Hugh amount of power and it's keeps going up using a computer system to mining would require you dedicating it to only mining

[vamshi789]

bitcoin is consuming more power in mining because it has more price and value so it takes more electricity.

[Julunguul]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

actually it could have been using eco-friendly personnel but to supply power consumption for crypto mining activities, this seemed almost impossible to do because as far as I am eco-friendly, the number of sources is very limited and of course the power generated has a maximum limit

[irenegaming]

That's a real problem and they are trying to solve it, just wait for the new bitmain models to know if they're really going to fix that, also for a permanent solution would have to move the type of mining from PoW to PoS or similar, which I do not know how convenient it is in the end.

[cizatext]

One of the ways bitcoin mining power consumption can be reduced is to option in to a more advanced technology such as the solar system in that case the usage may be a little flexible and cheap, but that will still not be a 100% solution to the environmental and bill disadvantage of advanced bitcoin technology. As long as the bitcoin network keep developing and advancing the cost of running a mining farm will always increase.

[kwakgyimah]

Some of the miners use solar to mine therefore they minimize their expenses on mining that makes it more profitable, Im not sure if there other way like this to mine.

Solar is a good source of energy to power the high consuming mining plants. It is for this reason that many blockchain based projects are trying to find solutions to the problems that crypto mining brings to the environment such as global warming.

[stiletos]

Solar should be the best option for bitcoin mining farms. To do this miners will need to locate places where there is sufficient sunlight for power generation. Wind option can also be explored at least with wind farms can be located in regions where additional cost for cooling won't be considered.

[Tipsters]

I'm not sure if there is but I think there should be a project also to counteract the power wastage of btc and other POW mining that is detrimental to the environment. They should start with that niche and then to grow further to the global issue.

[baghdatis1990]

             Energy consumption for Bitcoin will continue to grow, which can be an advantage and a disadvantage. The advantage is that the Bitcoin price will not fall below the production price and the disadvantage is that huge profits will not be realized in the near future , Bitcoin netravers the best period.