Power-hungry bitcoin overtakes electric cars
Miners of bitcoin and other cryptocurrencies could require up to 140 terawatt-hours of electricity in 2018
New York
THE global power needed to create cryptocurrencies this year could rival the entire electricity consumption of Argentina and be a growth driver for renewable energy producers from the US to China.
Miners of bitcoin and other cryptocurrencies could require up to 140 terawatt-hours of electricity in 2018, about 0.6 per cent of the global total, Morgan Stanley analysts led by Nicholas Ashworth wrote in a note Wednesday.
That's more than expected power demand from electric vehicles in 2025.
"If cryptocurrencies continue to appreciate, we expect global mining power consumption to increase," Mr Ashworth wrote in the no…
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