Overall power savings and climate gains are likely to be curbed if the electricity-hungry computers that previously helped to operate the network have been repurposed to mine other energy-intensive tokens, according to a paper published Tuesday in Cell Press journalMost of the processing power “used to mine Ethereum could be used on an even broader range of cryptoassets,” De Vries said in the paper.
Ethereum’s transition in September to a proof-of-stake from a proof-of-work approach — a shift called the Merge — could have slashed its power demand by as much as the electricity requirement of Austria, according to the analysis from De Vries. He also emphasized that determining the exact power consumption of digital currencies is challenging because not all miners operate at the same efficiency.
they planned to use their facilities for other purposes, such as high-performance computing, after the Merge.of all tokens, consumes 114.1 terawatts of energy on an annualized basis, according to Digiconomist, which is comparable to the power consumption of the Netherlands. That amount of electricity generates more than 63 million tons of carbon dioxide, which is on par with the carbon footprint of Serbia and Montenegro.
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Hey DM, you should do an article on the data that DSBatten writes about. How Bitcoin mining vented methane is REDUCING CO2 emissions from the largest sources in the oil and gas industry. By mining Bitcoin with waste and stranded energy sources is as 'green' as you can get.
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