Bitcoin, along with other cryptocurrencies, has been criticized for price volatility, high and variable transaction costs, poor security and use in illegal transactions.
Mining involves the calculation of complex mathematical equations and it is extremely energy intensive, requiring powerful and expensive computer equipment.
Putting the figure into perspective, it could power all of the kettles used to boil water in the United Kingdom and the European Union for 32 years and 4.5 years, respectively.
It is also substantially higher than the amount of electricity used by some of the world’s largest technology companies.
In fact, I love to write about all trending topics, illustrating patterns and trends in a quick, clear and meaningful way.