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 <p>As the global adoption of <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> has increased, mining activities have surged across the globe. The environmentalists have ignited debates on energy-intensive nature and environmental consequences of mining. To bring clarity to the complex issue, Cambridge University launched CBECI in 2019. Initially, it focused on electricity consumption, but the researchers realized a more comprehensive approach was needed. In 2020, they integrated the Mining Map to analyze the geographic distribution of mining, a crucial factor in understanding <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>’s climate impact.</p>  
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 <p>Also Read:&nbsp;<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Whales Add $1.5 Billion Worth of BTC In Last Two Weeks</p> 
 <h2 id="evolution-of-bitcoin-mining-hardware">Evolution of Bitcoin Mining Hardware</h2> 
 <p>The study uncovers the fascinating journey of Bitcoin mining hardware from its humble beginnings to its current state. Initially, miners used standard personal computers, relying on central processing units (CPUs). However, as the value of Bitcoin and competition grew, more efficient hardware became necessary. Graphics processing units (GPUs) took over in 2010, offering a sixfold increase in efficiency.</p> 
 <p>The evolution in the mining hardware continued with field programmable gate arrays (FPGAs) in 2011 which later evolved into application-specific integrated circuits (ASICs) in 2012. ASICs were a game-changer due to their unmatched efficiency, thanks to smaller chip sizes.</p>  
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 <p>Today, mining hardware has reached unprecedented levels of power and efficiency. Recent models, like the Bitmain, Antminer S19 XP, and MicroBT Whatsminer M53S++, boast hash rates that dwarf their predecessors. With time, the technological advancement has resulted in more profitable and longer-lasting devices, defying the earlier assumption of rapid obsolescence.</p> 
 <h2 id="energy-consumption-insights">Energy Consumption Insights:</h2>  
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 <p>The study also presents eye-opening data on <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>’s energy consumption. In 2022, the revised estimate reduced consumption to 95.5 TWh, equivalent to the electricity use of entire countries. The 2023 estimate stands at 70.4 TWh, showcasing the dynamic nature of <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> mining energy needs.</p> 
 <p>To put things into perspective the energy consumption of Bitcoin Mining is comparable to the energy consumption of tumble dryers in the entire United States (108 TWh) and renewable energy curtailment in China (105 TWh). In the global perspective, this adjustment represented approximately 0.38% of the world’s total electricity consumption.</p> 
 <p>The study by Cambridge University shows the true energy consumption of <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Mining. With major companies adopting renewable energy sources to mine <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>, the figures will only continue to drop. It’s time for the environmentalists to start finding other activities to boycott, because <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Mining is no longer the cause for global warming.</p> 
 <p>Cambridge University’s research highlights the evolution of Bitcoin mining hardware and its impact on energy consumption. The industry has come a long way, with current devices vastly outperforming their predecessors. The study by Cambridge University highlights the need for ongoing research in the crypto industry as technology continues to evolve.</p> 
 <p>Also Read:&nbsp;<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Whales Add $1.5 Billion Worth of BTC In Last Two Weeks</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cambridge-university-study-reveals-new-facts-on-bitcoin-mining-tbt61265.html">https://thebittimes.com/cambridge-university-study-reveals-new-facts-on-bitcoin-mining-tbt61265.html</a></p>

Cambridge University Study Reveals New Facts On Bitcoin Mining

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