By Jack Morse
Bitcoin is the way of the future — as long as that future just so happens to include shocking levels of energy consumption increasing at a jaw dropping rate.
So claims a new study published yesterday in Joule which, unfortunately for all the hodlers out there, paints a pretty dire picture. Specifically, one painted in ash. It says that by the end of this year Bitcoin electricity use could triple, approaching the consumption rates of the entire country of Austria.
Which, yeah. That’s not good. The conclusion of the peer-reviewed paper, written by Alex de Vries, is brutal. …