Bitcoin Carbon Footprint Reduced Significantly Due To Bear
All manner of green bitcoin mining projects are being initiated in a bid to reduce the number one cryptocurrency’s energy consumption. However, the current crypto bear market also appears to be helping greatly in this respect.
The current crypto bear market may have drastically reduced the portfolio holdings of those invested in the sector, but at the same time it has greatly helped to diminish the energy footprint of cryptocurrencies that use the proof-of-work consensus.
Bitcoin is obviously the major cryptocurrency in this respect, and according to Digiconomist, a platform that tracks digital trends from an economic perspective, bitcoin’s energy consumption has fallen off a cliff in the month of June, going from 204 TWh per year, to 133 TWh per year currently.
The current crypto bear market may have drastically reduced the portfolio holdings of those invested in the sector, but at the same time it has greatly helped to diminish the energy footprint of cryptocurrencies that use the proof-of-work consensus.
Bitcoin is obviously the major cryptocurrency in this respect, and according to Digiconomist, a platform that tracks digital trends from an economic perspective, bitcoin’s energy consumption has fallen off a cliff in the month of June, going from 204 TWh per year, to 133 TWh per year currently.
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