The computing capacity used in this process -- known as Bitcoin mining -- has increased rapidly in recent years. POWER CONSUMPTIONThe team, made up of management sciences and informatics researchers, began by finding out the power consumption of the network. They calculated the approximate power consumption to 45.8 terawatts, 2,120 times more than the electricity consumption of the whole of Kenya. POLICY-MAKINGThe methodology used for estimating the power consumption associated with Bitcoin’s blockchain was based on initial public offerings (IPO) filings of major hardware manufacturers, insights on mining facility operations and mining pool compositions. The researchers then translated the power consumption estimate into carbon emissions, using the localisation of Internet Protocol (IP) addresses.
Source: Daily Nation June 20, 2019 13:18 UTC