The economic drivers of Bitcoin mining make it so that the cost of the electricity needed to mine a Bitcoin will always be just a bit less than the value of a Bitcoin.
Every time speculators hype up the value of Bitcoin the amount of money wasted on electricity increases.
Bitcoins are mined at a preset rate of 6.25 bitcoins every 10 minutes. Which does at least get cut in half every few years. But this waste of energy is going to continue so long as there’s a market for Bitcoin.
The economic drivers of Bitcoin mining make it so that the cost of the electricity needed to mine a Bitcoin will always be just a bit less than the value of a Bitcoin.
Every time speculators hype up the value of Bitcoin the amount of money wasted on electricity increases.
Bitcoins are mined at a preset rate of 6.25 bitcoins every 10 minutes. Which does at least get cut in half every few years. But this waste of energy is going to continue so long as there’s a market for Bitcoin.