Bitcoin network power usage decreases to 10.65GW as the hash rate lowers by 14%

Depricated as of Oct 2022

Some CRYPKYP functionalities are depricated as of October 2022 and will no longer be populated until further development and future version.
Although all here is visible and interactable you can not Contribute to those articles.
Try looking at other information on the Platform and Contributing there!

Have a great day,

Bitcoin network power usage decreases to 10.65GW as the hash rate lowers by 14%

Bitcoin network power usage decreases to 10.65GW as the hash rate lowers by 14%
Source: CoinTelegraph
1656240845 26 Jun / 10:54

In imitation of the two-week decline in the mining hash rate, which decreased the required power for Bitcoin (BTC) block mining to 199.225 exahash per second (EH/s), the Bitcoin (BTC) network's overall power consumption dropped dramatically.

According to data from the Cambridge Centre for Alternative Finance, the Bitcoin network had the lowest power use in 2022 at 10.65 gigawatts (GW). The BTC network used 16,09 GW of electricity at its peak.

Cointelegraph reported on June 16 that the banking industry consumes 56 times more energy than the Bitcoin ecosystem. In an exclusive interview, publisher Michel Khazzaka, an IT engineer, cryptographer, and consultant, stated:

“Bitcoin Lightning, and Bitcoin, in general, are really great and very efficient technological solutions that deserve to be adopted on a large scale. This invention is brilliant enough, efficient enough, and powerful enough to get mass adoption.”

The precipitous decrease in Bitcoin’s energy consumption can be related to the dropping hash rate. The mining hash rate is a crucial security indicator, representing the needed computational power for BTC miners to mine a block successfully.

On June 13, Bitcoin’s mining difficulty reached an all-time high of 231.428 EH/s, followed by a -13.9 percent decline over two weeks. The most recent analysis of the hash rate distribution reveals that F2Pool and AntPool are the largest known miners, having mined 81 and 80 blocks, respectively, during the past four days.

Under federal sponsorship, a group of academics created the Electricity Stablecoin (E-Stablecoin), a stablecoin that would transport energy as a type of information.

According to Cointelegraph, one kilowatt-hour of power and a fee would be needed to mint the E-Stablecoin, which could be used for transactions like any other stablecoin.

Last News and Media
CRYPKYP contain links to third-party websites, resources, and advertisers. CRYPKYP does not control, sponsor, recommend or otherwise accept responsibility for any third-party content because we are not responsible for the availability of these outside resources or their contents or privacy practices. It will help if you direct any concerns regarding any third-party content to such a third party. We don't accept responsibility for the content of external websites linked to through the Site or the Services. Third-party content is accessed at the user's own risk. CRYPKYP distributes content from third-party publishers as indicated on the site from time to time mainly in Airdrops, News / Media, Whale Alerts, and Rumors. In these circumstances, CRYPKYP only provides limited stylistic input to the content. CRYPKYP does not verify and takes no responsibility for the accuracy of the content provided by any such third-party publishers.