The energy consumption by russian miners increased 20 times

  • 17:11 Aug 17, 2022
The energy consumption by russian miners increased 20 times

There is information that the mining sphere reached the level of agricultural industry. Comparison of the consumption in 2017 shows 20 times increase. This is evidenced by a report of Intelion Data Systems, the operator of equipment sales. In 2017 when mining bitcoin was used about 65.05MWt but in 2021 1245.34 MWt already.

From 2017 the quantity of electricity needed for mining, was increased by 150% per year. Today large companies that mine cryptocurrency have 40-45% from the whole consumption value increasing for 5-7% annually. For mining ETH, LTC and other altcoins spent a half of BTC capacities additionally.

According to the results of research and information from different state institutes the share of mining is about 0.64-2% and is equal to the whole agricultural industry electricity consumption.

Earlier data about minimal mining equipment cost was published. So for the beginning mining the sum 80290 rubles is needed, which is 22% lower than it was in February, 2022 but only 0.12% less than the same period of the last year.

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