Energy Consumption – Ƀitsell X

Unlimited Innovations vs. 2,500 Swimming Pools — AI Faces Similar Environmental Backlash as Bitcoin Mining

December 29, 2023

In recent years, attention has centered on bitcoin mining, particularly its energy usage in securing the network and validating transactions through proof-of-work (PoW). As generative artificial intelligence (AI) emerges as a major force in technology, it’s encountering similar environmental concerns. Moreover, advocates of bitcoin are drawing parallels between the criticisms of AI’s energy demands and…
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Bitcoin energy value metric puts BTC’s ‘fair value’ at $47K — Analyst

September 8, 2023

Charles Edwards of Capriole Investments says that despite the current headwinds, Bitcoin’s fair value sits at $45,000. Bitcoin’s price is trading in a frustratingly tight range between $25,500 and $26,500, leaving traders unsure of the next direction that the asset could take. However, Charles Edwards, founder of Capriole Investments, believes that Bitcoin’s (BTC) current price presents a…
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KPMG Study Highlights Bitcoin Mining’s Potential to Shrink Carbon Footprints

August 3, 2023

In a fresh analysis focusing on Bitcoin and its alignment with environmental, social, and governance (ESG) principles, the ‘Big Four’ accounting titan KPMG delves into the digital currency’s promising contributions to this movement. The professional services entity highlights four carbon-reduction techniques adopted by bitcoin mining firms across the entire mining sector. KPMG Report Discusses Bitcoin…
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The Agenda podcast chats with Energy Web on how to fight climate change with the help of blockchain

July 29, 2023

Energy Web CEO Jesse Morris explains why blockchain can make “going green” more efficient, how fighting climate change is easier, and why Energy Web is building on Polkadot. This summer, parts of the United States are wilting under a multimonth stretch of sweltering heat, and data suggests that summer temperatures will continue to creep up…
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New Study Highlights Bitmain’s S19 Mining Rigs Dominate Bitcoin Network’s Hashrate

June 13, 2023

Coin Metrics researchers published a groundbreaking study on June 13, unveiling an innovative nonce analysis methodology for bitcoin mining. This research enables experts to dissect and identify the specific mining rigs responsible for contributing hashrate to the network, while also evaluating the energy consumption and effectiveness of these machines. Intriguingly, the data reveals that Bitmain…
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Environmental Impact of AI Models Takes Center Stage Amid Criticism Against Bitcoin Mining

April 18, 2023

While bitcoin’s effect on the environment has been discussed at length over the last two years, the latest trend of artificial intelligence (AI) software is now being criticized for its carbon footprint. According to several headlines and academic papers this year, AI consumes significant electricity and leverages copious amounts of water to cool data centers.…
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2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022

April 11, 2023

It’s been more than 100 days since the end of 2022, and the price of bitcoin has risen more than 80% since then. Over the past 30 days, bitcoin has increased by more than 45% against the U.S. dollar. Despite its recovery this year, after a long crypto winter in the previous year, the Bitcoin…
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Cleanspark Purchases 45,000 Bitcoin Mining Devices, Adding 6.3 EH/s to Current Fleet

April 11, 2023

On Tuesday, the bitcoin mining company Cleanspark announced that it had purchased 45,000 Antminer S19 XP bitcoin mining devices for a total price of $144.9 million. Cleanspark stated that the new fleet would add 6.3 exahash per second (EH/s) of computational power to the company’s current 6.7 EH/s. Cleanspark Acquires 45,000 Bitmain Antminers for $144.9…
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How Irish farmers turn cow dung into digital gold (Bitcoin)

March 28, 2023

Tom Campbell, an Irish dairy farmer who runs a farm in County Armagh, is using excess energy from his farm to mine Bitcoin. An Irish dairy farmer has found an unusual way to make use of the excess energy produced on his farm — by turning to Bitcoin (BTC) mining. Tom Campbell, who runs a…
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ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy Use

March 9, 2023

Environmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Willy Woo created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress. Contrary to Cambridge University Data, Analyst Says Bitcoin Mining Uses 52.6% Sustainable Energy These days, there…
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Category: Energy Consumption