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🔋 Bitcoin price and energy use for mining highly correlated: UN report UN scientists evaluated the activities of 76 Bit…
🔋 Bitcoin price and energy use for mining highly correlated: UN report
UN scientists evaluated the activities of 76 Bitcoin mining nations during the 2020–2021 period and found that the global Bitcoin mining network consumed 173.42 terawatt-hours of electricity. During this timeframe, the crypto ecosystem was undergoing a bull run, and Bitcoin rallied to mark its ATH of $69K. 📈 “A 400% increase in Bitcoin’s price from 2021 to 2022 triggered a 140% increase in the energy consumption of the worldwide Bitcoin mining network,” The UN report highlighted 💬
