There’s a growing debate over how much power will be used by the world’s expanding rank of cryptocurrency miners, writes Tim Loh for Bloomberg.

Last week, he notes, Morgan Stanley said Bitcoin miners could use as much as 140 terawatt hours (TWh) of electricity this year – nearly half the UK total.

But this week, Loh says, Credit Suisse “dumped cold water on the notion that Bitcoin would create ‘uncontrolled growth’ in power demand,” recalling previous bullish predictions about the demand for electricity from marijuana growers or data centre operators, who later found ways to do more with less in order to cut their costs.

The bank predicts a similar trend for cryptocurrencies, Loh says.

Editorial Team
The Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with data and insights to deliver useful news updates. We are experts with the mission to inform, educate and inspire the industry. We are passionately curious, enthusiastic, and motivated to positively impact the world. Send us a tip via hello @ pvbuzz [dot] com.

Shell acquires large stake in US solar power firm Silicon Ranch

Previous article

Global clean energy investment in 2017 increased to USD 333.5 billion

Next article

You may also like

Comments

Comments are closed.

More in News