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Ronald Maguire

17 June 2022 134 Read Crypto , Bitcoin

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Bitcoin Consumes 57 Times Less Energy Than Traditional Banking

New research reveals that the use of Bitcoin has a much smaller carbon footprint than the traditional banking system. The largest of cryptos is coming under fire for its high energy consumption rates. It is known that Bitcoin uses more electricity than most countries in the world, and this use reaches 122 TWh per year.

Is BTC's Electricity Consumption Less Than Banking?

New research shows that Bitcoin is less energy-intensive than previously thought. When we compare Bitcoin with the traditional banking system, we can see that Bitcoin does not use as much energy as thought. The adoption of crypto payments could help alleviate the energy crisis around the world.

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