Energy consumption of the Bitcoin network has fallen by a quarter since the beginning of June – Bits Media

After the fall of the cryptocurrency market, many miners began to turn off outdated equipment, because it has become unprofitable. Energy consumption of the Bitcoin network fell by 25% in just a month.

According to the Cambridge Electricity Consumption Index of Bitcoin (CBECI), more 6 June miners of the first cryptocurrency consumed 14.34 GW. Now the figure is 10.65 GW

Year on year, energy consumption fell to 93.33 Evenings *. This is already lower than the consumption of such countries, like Argentina (125 Evenings *) and Norway, but still more consumption of Finland (82 Evenings *). Back in May, the annual electricity consumption of the network of the first cryptocurrency was estimated at 150 Evenings *.

The energy consumption index is calculated based on the “recoupment level”, which takes into account "different types of equipment". If the price of Bitcoin falls, mining on old and inefficient devices becomes unprofitable.

Now Bitcoin miners have significantly increased coin sales, to support your activities. If previously most of the mined BTC remained in the wallets of miners in the hope of continued growth in the rate, now the influx of coins from miners’ wallets has reached its maximum in recent years 7 months.

Previously reported, что падение криптовалютного рынка привело к массовой распродаже российскими майнерами топовых видеокарт на вторичном рынке.