Energy consumption of bitcoin miners fell to November level 2020 of the year – Bits Media

As of early July, electricity consumption by bitcoin miners fell by almost 60% to 62 TWh from a record peak in 143 TVt / h, recorded in mid -May.

According to the "Cambridge Electricity Consumption Index of Bitcoin" (CBECI), The total alleged annual electricity consumption by miners fell almost on 60%, decreasing from historical peak in 143 Tv/h d has up to 62 Twe/h in early July. This is the lowest level since the beginning of November 2020 of the year.

Now the annual electricity consumption of Bitcoin miners is estimated at 67 TVt / h. Moreover, the estimated maximum total electricity consumption is 162 Twe/h compared to 520 Twe/h in mid -May. The proposed minimum also decreased with 47 The TV / do you 24 TVt / h.

Electricity consumption of BTC miners since January 2017 of the year. Source: CBECI.

The energy consumption of Bitcoin miners began to decline as the Bear BTC market develops. Also, a considerable role was played by the tightening of regulatory policy regarding cryptocurrencies by the Chinese government.

In June, the Central Bank of China forbade banks to serve customers, associated with digital assets. Besides, In connection with the implementation of the state program to reduce carbon emissions into the atmosphere, A mining ban was introduced in all Chinese provinces.

Tighten the regulatory policy against miners and the mass closing of mining enterprises in China also led to the sale of video cards in the secondary market, used for mining cryptocurrencies.