In recent years, as bitcoin prices have skyrocketed, the power consumption of bitcoin mining has risen sharply. Globally, more and more energy-intensive mining machines are being used for bitcoin mining. According to a statistics, as of November last year, bitcoin miners consumed 29 trillion watt-hours per year, which is equivalent to 0.13% of total global electricity consumption, more than electricity consumption in Ireland and Nigeria, and 186 million in Nigeria. population. Even in the US, where electricity is used, bitcoin miners can consume millions of American homes.

As time goes by, bitcoin production will become less and less. In 2009, the “Chuangshi Block” rewarded the miners with 50 bitcoins; today, the miners who dig out the new district have paid less than 12.5 bitcoins. In the future, “mining” new bitcoin blocks will require more and more high-powered mining machines and more and more expensive equipment. As a cost, the electricity bill for maintaining mine operations is also increasing. In January of this year, the estimated annual electricity consumption of Bitcoin mining reached 39.84 TWh, and in just one month, this figure climbed to 48.37 TWh.

Even some analysts predict that if it continues to grow at this rate, Bitcoin mining will consume all of the world's electricity by 2020.

In addition to wasting energy, another problem caused by bitcoin mining is carbon emissions. It is carbon emissions. According to a Bitcoin mine data driven by coal-fired power generation in Mongolia, the Bitcoin mine produces a bitcoin of 8,000-13,000 kg and CO2 emissions of 24,000-40000 kg/min. Time.

Mining has lost a lot of electric energy, and carbon emissions have polluted the environment. Therefore, Bitcoin mining has been questioned and criticized by the outside world.