Cryptocurrency: The Knight in Shining Armor
#mining #cryptocurrency #crypto #energy #bitcoin #ether #knights
"Cryptocurrency is the financial sector’s Knight in Shining Armor, as it has introduced millions of people to Super things it comes: anonymity, adaptability, security among others, with Bitcoin, Ethereum and Knights being loved warriors"-- Paul Ebeling
Cryptocurrency must be made and transactions must happen, so people must mine them. But like all mining operations cryptocurrency mining consumes electricity and since Bitcoin is the most used cryptocurrency, it is the most mined.
The mining process of the genesis crypto asset accounts for 0.6% of the world’s total energy consumption going by the Cambridge Bitcoin Electricity Consumption Index which is overall irrelevant.
Hardware used in mining is used, it is disposed, as every mining group or company wants the fastest and most efficient equipment out there.
Some miners are experimenting with harnessing excess burn off Nat Gas from Crude Oil drilling sites. But, this is hard to quantify now. But it is free!
Have a prosperous day, Keep the Faith!
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