Bitcoin, the world’s most popular cryptocurrency, consumes an astounding amount of electricity. But, its energy use depends on a lot of things. After suffering a major collapse this entire month, BTC price has remained so low that it is driving the blockchain’s vast electricity consumption to fall as well.
Decentralization is a core ethos of Bitcoin. In this article, I will discuss the importance of keeping Bitcoin mining decentralized with widespread, small-scale mines. The future is competitive. Large Bitcoin mines have economies-of-scale advantages and are able to be set up in jurisdictions with the lowest power costs. While large-scale...