Bitcoin Farms

U.S. Bitcoin Mining Consumed 50 Billion kWh of Vitality in 2022

Posted on

There’ve been rivers of ink written on all features of cryptocurrency ever since that fateful day of the Bitcoin whitepaper publishing. Nonetheless, one query that is repeatedly delivered to the limelight (and understandably so) surrounds energetic and environmental sustainability. Now, the White Home itself is including gasoline to the hearth by its DAME Tax proposal, whose purpose is, and we quote: “making cryptominers pay for prices they impose on others.” 

How, you ask? By phasing in a further 30% tax penalty for cryptocurrency mining companies on any vitality they devour in that course of. In accordance with the White Home, that is “an instance of the President’s dedication to addressing each long-standing nationwide challenges in addition to rising dangers – on this case, the financial and environmental prices of present practices for mining crypto belongings.” The concept is easy: Bitcoin mining consumes loads of energy; this consumption drives electrical energy costs up; which is dangerous for everybody unlucky sufficient to share a grid with a cryptocurrency mining agency.

Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *