18 May '18, 11am

Bitcoin processing uses more power than Teslas do, for now

Tesla Model S purchased with Bitcoins from Lamborghini Newport Beach Enlarge Photo One criticism that doubters level at electric cars is that the electric grid may not have enough power to run them, at least in some places. While those concerns haven't materialized on any large scale, perhaps those critics should be more worried about Bitcoins. READ THIS: No, electric cars (still) aren't crashing the grid. Again. A new report by a Dutch blockchain expert estimates that Bitcoin mining—processing complex, secured mathematical transactions by computer—uses as much electricity as Ireland, according to a Bloomberg report . The report corroborates a Morgan Stanley report released at the end of last year, which notes that Bitcoin transactions use more electricity than all the Teslas (and other electric cars) on the road. Bitcoin According to the original report, Bitcoin miners ar...

Full article: https://www.greencarreports.com/news/1116773_bitcoin-proc...

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