Climate Changed
Bitcoin Could End Up Using More Power Than Electric Cars
- Cryptocurrency miners may rival Argentina in consumption
- Canada’s largest utility is already courting new customers
Why China Is Cracking Down on Cryptocurrencies
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The global power needed to create cryptocurrencies this year could rival the entire electricity consumption of Argentina and be a growth driver for renewable energy producers from the U.S. to China.
Miners of bitcoin and other cryptocurrencies could require up to 140 terawatt-hours of electricity in 2018, about 0.6 percent of the global total, Morgan Stanley analysts led by Nicholas Ashworth wrote in a note Wednesday. That’s more than expected power demand from electric vehicles in 2025.