Arcane Research has modeled bitcoin’s energy consumption figures through 2040 at various cryptocurrency prices. He said that miners will spend a certain percentage of their income on electricity. And the higher this percentage is, the greater the energy consumption in the industry will be. However, “the extremely competitive nature of mining ultimately motivates market participants to seek cheap energy sources.”
However, according to the analyst’s calculations, the energy consumption of the Bitcoin network in 2040 could be 0.36% of the estimated global energy consumption. This is, of course, a significant increase from the current 0.05%.
Source: Ferra
