Electricity News

Electricity is the physical flow of electrons. This flow is an energy carrier and is used to deliver energy for electrically-powered devices and establishments. Electricity is a major problem for the cryptocurrency industry. Blockchain electricity consumption values vary due to the algorithm used for establishing consensus. Proof-of-work cryptocurrencies demand a lot of power to operate. As a major PoW cryptocurrency, Bitcoin electricity usage is estimated around the value equal to that of Ireland. Bitcoin mining electricity is the most consuming part of the cost. Blockchain electricity consumption is also an environmental problem, as the growing amount of power demand may lead to climate change. Fixing the problem of large electricity requirements is a field of work for many tech companies. The most used technology for reducing energy demand is a proof-of-stake consensus algorithm that changes the way mining is performed.

News
Bitcoin has already consumed more power in 2021 than it did in all of 2020, according to a recent study.
Bitcoin’s power consumption this year has already surpassed all of 2020’s
Martin Young
2021-09-15T04:30:39+01:00
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News
Authorized Bitcoin miners will be able to resume their operations after the electricity preservation policy during the hot summer months.
Iran to lift Bitcoin mining ban in September
Osato Avan-Nomayo
2021-08-23T12:40:35+01:00
5869
News
The gaming hardware confiscated by the Ukrainian police was being used to create in-game currency and not for farming cryptocurrency.
Seized PS4 consoles in Ukraine used for FIFA accounts, not crypto mining
Osato Avan-Nomayo
2021-07-19T13:09:11+01:00
6749
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Russian crypto advocates are already collaborating with a consortium including some of China’s largest crypto mining-related companies.
New project aims to bring global crypto miners to Russia
Helen Partz
2021-07-16T17:02:27+01:00
4737
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The Anhui government is addressing growing electricity demand by shutting down local crypto mining operations.
China shuts down crypto mining in Anhui province
Helen Partz
2021-07-14T09:04:11+01:00
2627
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Miners used an empty warehouse of an electricity supply company to plug into the grid and mine crypto on a variety of devices, including gaming consoles.
Ukrainian police seize 3,800 PS4 consoles used for illegal crypto mining
Erhan Kahraman
2021-07-12T11:46:03+01:00
8126
News
Bitcoin’s total annual electricity consumption has fallen almost 60% since its all-time peak recorded in mid-May, according to industry data.
Bitcoin electricity consumption falls to November 2020 levels: Data
Helen Partz
2021-07-08T16:38:38+01:00
3353
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Discounted tariffs made Iran attractive to miners, now the country is having a hard time closing the gap between the production and consumption of electricity.
Iran pauses electricity exports due to crypto mining and hot summer
Erhan Kahraman
2021-07-07T11:42:44+01:00
1868

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