/In Iceland, more energy will be used for bitcoin mining than powering homes

In Iceland, more energy will be used for bitcoin mining than powering homes



Mining bitcoins requires a great deal of computing power which in turn needs a lot of electricity to solve the mathematical puzzles that reward miners with cryptocurrency. China and South Korea have already banned bitcoin mining due to problems with a lack of control over fraud and money laundering, …

Source: In Iceland, more energy will be used for bitcoin mining than powering homes