The energy demand of American Bitcoin mining is so great that it can already be seen in the country's electricity consumption: the business sector, which has begun to grow significantly in recent years, now consumes the same amount of electricity as the entire state of Utah, so last year it was The offshore electricity grid has to meet the needs of roughly 51 states, which is 50 real states instead of 50 states and Bitcoin mining accounted for between 0.6 and 2.3 percent of total U.S. electricity use last year, depending on the period, according to a recent estimate from the U.S. Energy Administration.
The ever-increasing energy demand in Bitcoin mining and the resulting additional load on the network are of increasing concern to American policymakers and infrastructure development specialists: increased usage in some periods strains the network load to the point of explosion, raises energy prices, and even System collapse. Carbon also increases carbon dioxide emissions. The report indicates:
US cryptocurrency mining energy consumption corresponds to the electricity needs of 3-6 million households.
Bitcoin mining in America has been going on for a decade, but in May 2021, after China banned the activity, a raft of mining companies moved abroad, with many even going public. Most are located in Texas, Georgia and New York, and the energy agency currently tracks electricity consumption for 137 such companies, but for now it can mainly only work with estimates – but that will change radically soon.
Bitcoin mining logs are becoming more stringent
From now on, the Council expects all mining companies it knows to submit their energy consumption statistics every month, so that they can accurately track from which source of electricity, in exactly which geographical areas and in what quantity they are used during their operations. . If they neglect their new obligations to disclose data,
Up to $10,633 per day fine They may also be subject to supervision,
Furthermore, rebellious miners may face criminal consequences.
A recent report by the Ministry of Energy indicates the following: A Bitcoin mining was responsible for 0.2-0.9 percent of global energy consumption worldwide last year, equivalent to the entire electricity demand of Greece or Australia.