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More efficient crypto mining hardware being deployed has resulted in a slowing of Bitcoin network energy consumption, according to recent figures.
Bitcoin network energy consumption has been thrown into the spotlight yet again as the Ethereum Merge made the world’s second-largest digital asset virtually energy free.
However, recent statistics reveal that more energy-efficient ASICs (application-specific integrated circuits), the hardware used for mining, have reduced the acceleration of network energy demand as its hash rate has increased.
The findings were reported by Messari on Oct. 7, with the company stating that “the decoupling could be attributed to newer ASICs coming online, which are more energy efficient and have a higher hashing rate.”
Compared to Q2 2022, estimated energy consumption for #Bitcoin only increased 2% while hashrate increased 6% and
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