Bitcoin, the world’s most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars per coin, according to new estimates by Arcane Research.
Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin’s energy usage toward 2040.
If the BTC price hits $2 million in 17 years, Bitcoin may consume 894 Terawatt-hours (TWh) per year, surging 10 times from today’s level, the report suggests. Despite huge growth, such energy consumption would only account for 0.36% of the estimated global energy consumption in 2040, increasing from Bitcoin’s 0.05% share today, the analyst estimated.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Bitcoin News Alerts | Daily BTC News