The crypto market’s bearish run has reduced Bitcoin’s energy consumption to 130.5TWh and lower.
This is the least amount of energy the Bitcoin network has consumed over the past year.
Ethereum’s energy consumption along with other cryptos have also dropped amid the market’s nosedive.
The crypto market's recent nosedive is also wiping off Bitcoin’s energy footprint from the world. While the energy footprint is surely going to go back up once the market bounces back, for the time being, the total energy consumed by the Bitcoin blockchain network has declined to a one-year low, according to Digiconomist.
This collective computing power, though, consumes a large amount of energy, most of which is generated using fossil fuels. According to energy consumption trackers like Digiconomist, the total energy consumed by Bitcoin dropped from around 204.5 terrawatt-hour (TWh) per year earlier this month to 130.5 TWh on June 19, which is the lowest it has been in one year.
Digiconomist’s tracker...
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