Author Topic: Cryptocurrency Mining uses a ton of power  (Read 76 times)

Offline Fujitsu

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Cryptocurrency Mining uses a ton of power
« on: July 13, 2017, 05:47:38 am »
If you've tried to buy a new video card in the past year you've probably noticed that supply seems to be extremely limited. If you look into it more you'll realize that cryptocurrency miners are basically buying up mid and high end hardware to setup farms of computers to do this mining. Between Ethereum and Bitcoin, the amount of power used to mine these cryptocurrencies exceeds the power consumption of Syria, a country with 17 million people. 

So much for going green!

TechPowerUp has the full story.

   So, yes, the headline is accurate. We all know that cryptocurrency mining has now reached an all time high, which has affected availability and pricing of most graphics cards from both AMD and NVIDIA. Who doesn't want to make a quick buck here and there? So long as it's profitable, right?
   
   Well, that kind of thinking has already brought the global mining power consumption to unprecedented levels (some might also say demented.) The two top cryptocurrencies right now (by market-cap), Bitcoin and Ethereum, are each responsible for 14.54 TWh and 4.69 TWh power consumption figures. As of now, Ethereum consumes almost as much power as the 120th most power-consuming country, Moldova, which has a population of around 3 million. Bitcoin, on the other hand, stands at 81st on the list, in-between Mozambique and Turkmenistan, the latter of which has a population estimated at 5.17 million people. Combined, Ethereum and Bitcoin consume more power than Syria, which had an estimated 2014 population above 17 million.

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