Bitcoin mining consumes more power than New York State

After Ireland comes the Big Apple. Bitcoin is now consuming more electricity than NYC.

Last year, a number of reports have highlighted Bitcoin's massive energy requirements to operate and how the first cryptocurrency could have major negative impacts on the environment.

As the network is becoming increasingly competitive, Bitcoin miners have to deploy humongous data warehouses and invest in the latest mining rigs in order to stay profitable. TechCrunch captured the scenario in their video series:

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