Global Bitcoin mining now consumes as much electricity as Nigeria

Bitcoin prices are at an all-time high (over $7k per coin), but the trajectory comes with a surprising side effect: energy consumption for cryptocurrency transactions is through the roof.

As more and more miners take to their comps, they must solve “increasingly more difficult cryptographic puzzles.”

These complex computations, in turn, take more and more energy, meaning that today, just one Bitcoin transaction now takes 215 kilowatt-hours of electricity — enough to power the average American home for a week

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