Questions still abound about the sustainability of cryptocurrency mining and its impact on energy consumption. Per figures from Digiconomist, Bitcoin consumes 53.28TWh annually (about as much as Bangladesh consumes in a year) and about 262KWh per transaction. For some context, that could power more than 3,000 US households a year. Ethereum, the world’s second largest cryptocurrency, is a little easier on electricity by comparison but still consumes 15.22TWh a year at 55KWh per transaction on average. Needless to say, this leaves behind a hefty carbon footprint and casts doubt on the future of cryptocurrency. This all fits into wider problems…
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