Were you aware that Bitcoin runs on an energy-intensive network? According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 132 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden.
New sets of transactions (blocks) are added to Bitcoin’s blockchain roughly every 10 minutes by so-called miners. The machines performing the “work” are consuming huge amounts of energy while doing so – primarily sourced from fossil fuels. #fossilfueled