Watch: Cryptocurrency Is Using More Of The Grid Than Electric Cars

Mining for bitcoin and its rivals would suck more power from global electric grids, this year than electric vehicles would draw in the next seven. analysts estimated power demand to mine for bitcoin to equal 0.6% of the world’s electricity consumption in 2018 Future energy consumption of bitcoin and other cryptocurrencies and their underlying technology could become a hot topic for the sector, the analysts said. Seeking low electricity costs, bitcoin mining will continue to be concentrated on low-cost power generation countries such as China and, in the U.S.