forest image Debate about the environmental effects of bitcoin mining has resurfaced following claims by an Australia-based sustainability think tank that bitcoin could eventually consume 60% of annual global electricity production.
According to the Long Future Foundation’s website, its calculations are based on the assumption that 1 BTC is valued at £1m, the cost of mining this resource is $500,000 and 3,600 bitcoins are produced every day.
"Bitcoin miners can get power cheaply for $0.05 per kilowatt hour […]
