The New Zealand Herald
Bitcoin energy use
Bitcoin mining in China will outstrip the energy consumption of entire European countries by 2024, scientists say, warning the industry threatens climate change goals. In China, the energy-intensive process of “mining” the cryptocurrency, which involves powerful computers verifying transactions by solving puzzles, is exacerbated by the fact that many of the “miners” are in areas that rely on coal. The study, published in the Nature Communications journal, predicted energy usage of the Bitcoin blockchain would peak in 2024 at almost 297 terawatt hours and generate 130.5 million tonnes of carbon emissions.