An analysis of the twenty largest cryptocurrencies by market capitalization with PoW showed that only 66% of all computing power is used for Bitcoin mining.
Studying basic algorithms, current performancehashrate and technical characteristics of mining equipment, a team from the Technical University of Munich found that networks of little-known digital assets consume a lot of energy.
According to scientists, this additional energy consumption indirectly affects the environment by increasing the load ongenerating installations and the intensity of resource consumption, which can lead to switching the type of fuel used.
According to Digiconomist, currentlythe bitcoin network consumes about 63.5 TWh of electricity per year. At the same time, 73% of mining is carried out at the expense of renewable energy sources, and more than a third of the total MTC hash rate falls on one Chinese province.
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Chinese miners provide 65% of the bitcoin network hash
Chinese miners control 66% of the bitcoin hash
About 30% of the total amount of electricity used in mining is accounted for by altcoins
One Chinese province produces one third of all BTC hashrate
One Chinese province accounts for more than a third of Bitcoin’s hashrate.
BTC, ETH and USDT account for 90% of the trading volume