Technology

37740 readers

605 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

202

Each Bitcoin transaction uses 4,200 gallons of water — enough to fill a swimming pool — and could potentially cause freshwater shortages (www.tomshardware.com)

submitted 11 months ago by [email protected] to c/[email protected]

110 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 5 points 11 months ago

It's an overestimate. Right now the total cost per transaction is around 82 US dollars, which at current exchange rates is 75 Euros. That cost covers everything - electricity, rent for the building, salary for staff, taxes, depreciation of mining equipment, and whatever profit is required to keep the miners in business. I don't know what proportion of miner costs actually goes to electricity but I expect it'll likely be much less than 70 Euros.

Perhaps someone got that 700 kWh figure by doing the reverse calculation - looking at how much a transaction cost and then assuming that all goes toward electricity.