Why Does Bitcoin Mining Consume Energy?

Bitcoin mining consumes a high amount of energy annually to keep the blockchain running. It typically consumes around 10 minutes to add new groups of verified transactions. A mining farm is designed to complete a specific task in a fast and efficient manner.

It’s energy consumption is variable depending on the size of the operation. Miners can operate at various scale from small-scale operations to large-scale industrial operations.

How the network consumes energy is often misunderstood. It is typically used to verify transactions and add new verified transactions to the network.

Compared to mining, sending a bitcoin transaction consumes less energy than adding new transactions to the network. When a transaction is sent, it will be verified by non-mining nodes before it is added to the network’s record.

Learn more about Titan and our Mining solutions.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Lumerin Protocol

Lumerin Protocol

697 Followers

Making crypto mining hashpower a tradeable commodity. Built by Titan Mining. Visit us on https://lumerin.io/.