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A new study claims Bitcoin mining to be less expensive than drying clothes.
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The study compares the power usage of the machine and the mining rig.
Bitcoin Mining is often criticized for being energy intensive, but a new study says that mining 1 BTC is less expensive than drying clothes. There have been extravagant claims that Bitcoin consumes more energy to suffice a small nation or emits more carbon than a simple Visa transaction. This debate may never end but a study claims that mining one Bitcoin is cheaper than a simple household activity.
How does electricity usage in solo Bitcoin mining compare to household appliances?
Our study shows that #Bitcoin mining at home uses 4.6 kWh, which is around the same as the electricity usage of a clothes dryer.
Read the full study: https://t.co/J0zATdjsb1 pic.twitter.com/A8CTiOWMI5
— CoinGecko (@coingecko) September 4, 2023
Bitcoin Mining and Electricity Bills in Different Countries
Data suggest an av
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