Cryptomining eats more energy than real mining

More than copper and gold

The journalists from from Nature scientic have determinated how much energy cryptocurrency mining networks are using to generate $1 USD. Since the value is constantly in flux, it's hard to determinate the real exchange but you can still get very close.

According to the report, from 1 January 2016 to 30 June 2018, Bitcoin, Ethereum, Litecoin and Monero have consumed on average 17, 7, 7 and 14?Megajoules to generate one US$ respectively. In order to generate the same amount of cash with aluminum, copper, gold and platinum you need less Megajoules. Bitcoin, Ethereum, Litecoin and Monero are only four cryptocurrencies and the market is offering several other coins that are very popular lately.

This isn't the first study to warn about the environmental impact of cryptocurrency mining. According to a report from University of Hawaii at Manoa, Bitcoin emissions alone could push global warming above 2 degrees Celsius in less than 30 years. If you are curious and you want know more about the research from, you can find below the full paper.

Source: Nature

News by Luca Rocchi and Marc Büchel - German Translation by Marc Büchel - Italian Translation by Francesco Daghini

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