Bitcoin’s water consumption: A new environmental threat?

Bitcoin, the world’s leading cryptocurrency, has long been under scrutiny for its environmental impact due to the energy-intensive nature of its mining process. 

Since its inception in 2008, Bitcoin has never been hacked. Its tight security, provided by its proof-of-work (PoW) consensus mechanism, provides value to the cryptocurrency.

PoW, however, is energy-intensive and relies on complex cryptographic algorithms requiring vast computational power.

The global popularity of Bitcoin (BTC) has resulted in its network energy consumption sitting at 147.61 terawatt-hours per year as of Dec. 7, close to the yearly average energy consumption of countries such as Poland, Ukraine and Malaysia,…

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