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Over 2 percent of the US’s electricity generation now goes to bitcoin
(arstechnica.com)
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this post was submitted on 03 Feb 2024
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Mining is barely transactional in nature. Pretty much all of it is calculating hashes, which, on one hand, is super important as part of Proof-of-Work consensus, the most decentralized one we have, but on the other we have other reasonably secure options that waste two orders of magnitude less power.