Bitcoin power consumption (BTC) is growing faster, with new data showing that Tskhinvali rates are still at record levels.
Hash speed record with less power
The aggregator statistics, released on September 5, showed that although more computing power is devoted to extracting Bitcoin, less energy is needed for it.
According to one scheme, energy consumption since July is 69.79 terat per year. In July 2018, the figure was 71.12 t, and the hash rate was almost 60% lower than it is currently.
Annual consumption of bitcoin electricity
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Annual consumption of bitcoin electricity. Source: Statista
As Cointelegraph reports, the hash rate measures the total computational energy involved in processing a Bitcoin transaction. The meter received 80 quintals in August and is below 90 quintals per second. In July 2018, there were about 40 quintiles.
Bitcoin mining seems to be green
Thus, the data are attributable to the general tendency of miners to be more environmentally aware. As bitcoin prices recovered this year, many operators announced efforts to improve efficiency.
A June poll found that three-quarters of Bitcoin’s mining activity works with renewable energy.
Since then, hardware manufacturers have been trying to develop new devices with higher power and lower power demand, such as Bitmain’s 7-nm Antminer, which opened last November.
However, electricity remains a popular topic among third parties, some of whom argue that industry consumption is morally questionable.