The bitcoin network is run by miners, computers that maintain the shared transaction ledger called the blockchain. A new study estimates that this process consumes at least 2.6GW of power – almost as much electric power as Ireland consumes. This figure could rise to 7.7GW before the end of 2018 – accounting for almost half a percent of the world’s electricity consumption.
Bitcoin is – quite literally – destroying our environment. It’s erasing the meagre progress we’ve made on reducing our overal energy consumption, for a glorified Tulipmania.