05 February 2024

A sizable chunk of the US’s electricity generation is wasted on mining bitcoin


Electricity demand associated with U.S. cryptocurrency mining operations in the United States has grown very rapidly over the last several years. The U.S. Energy Information Administration (EIA) preliminary estimates suggest that annual electricity use from cryptocurrency mining probably represents from 0.6% to 2.3% of U.S. electricity consumption.

This additional electricity use has drawn the attention of policymakers and grid planners concerned about its effects on cost, reliability, and emissions. Key challenges associated with tracking cryptocurrency mining energy use include the difficulty of identifying cryptocurrency mining activity among millions of U.S. end-use customers and the dynamic nature of the crypto market, where mining assets can be moved rapidly to areas with lower electricity prices.


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