Bitcoin miners' energy consumption drops 24% after halving the award

After the block reward was halved, miners began disabling legacy ASIC miners for BTC mining. Generalminers' power consumption decreased by 24%.

According to Digiconomist, afterhalving the rewards of miners and the subsequent shutdown of a significant amount of equipment, the energy consumption of Bitcoin miners decreased by 24%, but still remains high.

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According to Digiconomist, the current volumeThe energy consumed for BTC mining is equivalent to the energy consumption of Bangladesh. Adding one bitcoin transaction to the blockchain requires as much energy as the average American homeownership consumes for 18 days. The carbon footprint of BTC miners per transaction is equivalent to the carbon emissions of 649,360 VISA transactions.

Bitcoin halving influenced many indicatorsnetwork. After the next recount, the bitcoin mining difficulty decreased by 6%. Now the complexity is 15.14 trillion, while in March it reached 16.55 trillion. If, before halving the rewards, miners received less than 10% of the profit from commissions, then after halving the share of commissions increased to 17%.

It is important to note that the drop in energy consumption by24% is not caused by a corresponding drop in the hash rate. It fell significantly less, as the equipment with the least energy efficiency was the first to turn off. And now, the most massive ASIC miner in history, Antminer S9 and its analogs, already falls into this category.

The decrease in the activity of miners also led to an increase in the pool of unconfirmed transactions (mempool) of Bitcoin to maximum levels since January 2018 and an increase in commissions.

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