Neste’s Muruganathan: “Virtual currency with a real carbon footprint”

Wealthandsociety10 Sep, 2021Finance

According to studies the cryptocurrency industry consumes approximately 77 to 110 trillion watts per hour of power annually. This can be compared to the annual national energy consumption of countries like Chile and the Netherlands and about 17 times the electricity annual consumption of Google’s operations. In totality, cryptocurrency mining accounts for approximately 0.5% of global electricity consumption.