Power Hashing
Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop
The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks to 199.225 exahash per second (EH/s). According to the data shared by the Cambridge Centre for Alternative Finance, the Bitcoin network recorded the year 2022’s lowest power demand of 10.65 gigawatts (GW). At its peak, the BTC network demanded 16.09 GW of power. Bitcoin network power demand from 2018-2022. Source: ccaf.io On June 16, a Cointelegraph report highlighted how the banking sector utilizes 56 times more energy than the Bitcoin ecosystem. Publisher Michel Khazzaka, an IT engineer, cryptographer and consultant said in an exclusive interview: “Bitcoin Lightning, and Bitcoin, in...
