Why does Bitcoin consume ‘insane’ energy?


Bitcoin mining centres around the world, like this one in South Korea, consume an enormous amount of energy. — dpa

NEW YORK: Cryptocurrency fans have counted Tesla boss Elon Musk as among their champions, but this week he rocked their world by questioning the future of the digital assets and singling out carbon emissions from bitcoin mining for particular criticism.

“Energy usage trend over past few months is insane,” Musk tweeted on Thursday, sharing a chart from the Cambridge Bitcoin Electricity Consumption Index (CBECI), his latest missive in a salvo that’s caused Bitcoin’s price to drop.

Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

China tech groups call for boycott of top AI conference
Meet Eve, the AI brain behind an ex-Coatue trader’s new fund
Life with AI causing human brain 'fry'
BlackRock funds provide about $57 million to IQM Quantum Computers ahead of US IPO
In the wake of US social media verdicts, a look at what limits other countries have imposed for kids
Dubious AI detectors drive 'pay-to-humanise' scam
DeepSeek probes hours-long AI outage after users report errors
Another PlayStation price hike means the gaming console will cost 30% more than it did last year
AI's arrival complicates Big Tech climate goals, and some worry it's locking in more fossil fuels
World Backup Day: Don’t let your digital memories vanish

Others Also Read