March 31, 2022

Bitcoin V/s Gold: 3.5 times more!

Everyone is not investing in Bitcoin. However, they are talking about it and planning for it. What about you? Before you go bankless, you must know...

"Bitcoin mining is more expensive than gold mining!"

It requires 17 megajoules (MJ) of energy to generate a bitcoin worth $1. Gold necessitates 5 MJ fewer than Bitcoin.

The mining outcome is the procedure that involves solving extremely complicated calculations on the system.

Therefore, most of the bitcoin mining centres are located in locations with low temperatures, like Siberia, Russia.

The increase in the number of users of Bitcoin results in a carbon footprint 15 times greater than gold’s. China used to prefer hydropower for Bitcoin mining.

Is it possible that Bitcoin mining could go green? Share your opinion with us!