Bitcoin Energy Considerations
W3i.fund
May 22
Some interesting statistics on bitcoin energy usage compared to other industries.2020 Data: Household tumble dryers in the U.S. consume 108 TWh / year, while Bitcoin uses 62 TWh / year2021 Data: Gold production consumes 240 TWh / year, while Bitcoin uses 110 TWh / yearThe general consensus is that any energy usage is acceptable so-long as it has valuable utility. What is the societal value of bitcoin?If Bitcoin is a replacement for gold (as a store of value) can we compare its energy usage to...
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