Increase in Energy Use Cuts Into Bitcoin’s Profitability – Bitcoints

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Published on May 17th, 2018 | by bitcoin

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Increase in Energy Use Cuts Into Bitcoin’s Profitability

Increase in Energy Use Cuts Into Bitcoin’s ProfitabilityNurPhoto/Getty Images Energy consumption required to mine for Bitcoin may soon become too expensive for cryptocurrency mining to become profitable.
In the past, more accurate energy estimates were not possible because of the secretive nature of Bitcoin mining facilities, which keep their operations behind closed doors.
So much energy is required in mining because of the decentralized nature of Bitcoin.
In addition to the energy consumed to mine, these systems also require a significant amount of energy for cooling.
Another startup is using the heat generated from mining to warm your home as an alternative to using energy to cool mining facilities.

Source: News.google.com

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