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Global bitcoin transaction processing costs USD25m per day in electricity

Global bitcoin transaction processing costs USD25m per day in electricity

New data released by Trading Platforms indicates that it costs USDF25.2 million per day in electricity to process bitcoin transactions. The consumption cost is based on bitcoin’s 30-day average transaction of 328,418 as of 17 January, 2021, and the energy footprint per 1 BTC transaction confirmation of 612 kWh equivalent to USD76.74.

CRYPTOCURRENCY

Man Group sees bitcoin volatility as part of the asset’s “price discovery” process

Man Group sees bitcoin volatility as part of the asset’s “price discovery” process

As more hedge fund firms pile into the digital asset and cryptocurrency space, analysts at the London-listed hedge fund giant Man Group say bitcoin’s recent volatility could be seen as “price discovery” in a new asset class, which will ultimately give way to greater stability in the currency, and more credibility among investors.