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0 sats \ 0 replies \ @Maximus 23 Sep 2023 \ on: Bitcoin miners double down on efficiency and renewable energy bitcoin
Faster / more efficient miners is just Moore’s Law in action. It serves only to propel the hashrate higher. The overall energy consumption of the network is not affected, this is determined by the price of energy not the efficiency of the machines. It’s a red herring.
Bitcoin requires costly real world expenditure on energy to be secure, regardless of how many petahashes that energy gives it.
Energy efficiency in mining equipment should not be seen as any kind of ESG win, and it will not affect the total energy consumption of the network.