The U.S. Energy Information Administration (EIA) estimates that Bitcoin mining consumes approximately 170 terawatt-hours (TWh) of electricity annually, accounting for about 0.6% to 2.3% of the total electricity consumption in the United States. This substantial energy usage has sparked discussions about the environmental impact of cryptocurrency mining.
Additionally, an April report from JPMorgan Chase indicates that the combined market capitalization of 14 publicly traded U.S. mining companies is around $20 billion. This significant figure highlights the growing interest and investment in the cryptocurrency mining sector, reflecting its increasing importance in the broader financial landscape.
To explore more about the energy consumption of Bitcoin mining and its economic implications, check out the full article at cryptonews.net. Stay informed on how these factors are shaping the future of cryptocurrency!
Read More: From Clean Energy to Cloud Hosting: Bitcoin Miners Have Diverse Operations (cryptonews.net)
